UGANDA COOKED FIGURES TO GET IMF LENDING
The Source: The Uganda Confidential No. 542 of November 2009
Editor Teddy Sseezi – Cheeye
“Big lessons for Uganda from the Confessions of an Economic Hit Man”
Author – John Perkins
When an IMF team visited Uganda shortly after NRM had just taken over power in 1986, and found that Uganda did not have economic figures it needed as a pre-requisite for borrowing, a friendly leader of the IMF team, a Kenyan, advised his Ugandan brothers to cook up some nice economic figures, because there was no way the global institution could lend Uganda money without figures.
The Ugandan team retreated in the kitchen and did wonderful statistical spicing up of figures. Economic growth was put at a pleasing percentage. (Teddy Cheeye)
In “Confessions of An Economic Hit Man: The shocking inside story of how America REALLY took over the World,” John Perkins reveals the shocking truth: Exaggerated economic projections are falsely given in order to justify why poor countries should be lent huge credit loans which in return are used to award big jobs to companies from donor countries, and which consequently enslaves the borrowing countries and their people, to the lender countries.
Economic Hit Men (EHM) are highly paid professionals, who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, USAID and other foreign donors into the coffers of huge corporations and the pockets of a few wealthy families who control the planet’s natural resources. Their tools include fraudulent financial reports, sex and murder.
In Uganda for example, foreign consultants earn more than 95% of the $300 million in annual technical assistance, while local consultants get only 5%!
SELL PROPERTIES OF CORRUPT GOVT. OFFICIALS
Wednesday, 5th November, 2008
Last week, the director of economic monitoring in the Internal Security Organisation (ISO), Teddy Ssezi Cheeye; former UBC producer Fred Kavuma and three officials of a non-governmental organisation who are accused of misappropriating Global Fund money were sent to prison.
A reminder that corruption is still rampant in Uganda. Corruption is defined as an act done with intent to give some advantage inconsistent with official duty and the rights of others. This could be bribery, embezzlement, favouritism and the use of public office for selfish gain.
Corruption has become a means of livelihood in Uganda, with ordinary citizens glorifying some high-ranking officials involved in the practice.
The Government should adopt a policy of seizing property belonging to corrupt public officials and their associates, irrespective of whether they acquired the property before being implicated in corruption.
I do not subscribe to the idea of sentencing corrupt persons to jail because when they are released they start enjoying the wealth they acquired dubiously. If their properties are seized and auctioned, the Government will recover the stolen money and use it to improve the lives of poor citizens.
All persons found guilty by courts should be given suspended jail sentences and forfeit all their property to the state. In this way, we would have part of the stolen money returned to the treasury.
What is the logic in sentencing a person to a jail term of 14 years when you can seize his or her property to recover the money?
Once the Government starts confiscating property, corruption will reduce because people will fear losing their property whose value may be more than what they stole.
The confiscation policy would impoverish those involved in corruption, which would serve as an example to others with similar intentions. The Government might face difficulties in implementing this policy because our laws require proof that the said official acquired the property through corruption. But, confiscating the property to check corruption is the way to go.
The writer is a Ugandan research Journalist based in Johannesburg South Africa