{UAH} Emmanuel Tumusime Mutebile Vs finance minister Matia Kasaija
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6:06 AM |
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Seemingly the disagreement between the Bank of Uganda Governor Eng Emmanuel Tumusime Mutebile and finance minister Matia Kasaija is something serious.
The government stand is to bring the money printer in Uganda yet the governor insists that money should be printed in Germany.
In Africa the most common example of such a country printing money herself is Zimbabwe where the currency lost value to an extent of having a one trillion dollar note.
The moment government suppresses Mutebile and brings the money printer here, the central bank will automatically lose control over the money in circulation since it has been Museveni's idea to print more money after misuse and in case of any scarcity. This is why there will continuous devaluation of Ugandan shillings against the foreign currency since it will have lost meaning.
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-- The government stand is to bring the money printer in Uganda yet the governor insists that money should be printed in Germany.
In Africa the most common example of such a country printing money herself is Zimbabwe where the currency lost value to an extent of having a one trillion dollar note.
The moment government suppresses Mutebile and brings the money printer here, the central bank will automatically lose control over the money in circulation since it has been Museveni's idea to print more money after misuse and in case of any scarcity. This is why there will continuous devaluation of Ugandan shillings against the foreign currency since it will have lost meaning.
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Allaah gives the best to those who leave the choice to Him."And if Allah touches you with harm, none can remove it but He, and if He touches you with good, then He is Able to do all things." (6:17)
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