More Himbara Lies to Make Museveni Feel Good

RNC Mouthpiece David Murunganwa, long on Yoweri Museveni and Tribert Rujugiro’s payroll must have faked more than his name “Himbara” to get into University. His post on debt will leave no doubt that Himbara went on to fake all his subsequent degrees as he feigns knowledge in Economics and even basic Geography.

As usual, his EAC debt analysis begins with a deliberate distortion by reducing the block to 4 countries rather than 6, with a 7th joining soon, but thereafter he continues with his famous misquotes of an IMF report. For instance, he claims the report is worried about Rwanda’s ability to service the Eurobond maturing in 2023 when the report states, “the repayment of the existing Eurobond in 2023 would be mitigated by the authorities’ debt management strategy to smooth out the debt servicing profile.”

But what is even more obvious, for any trained economist, is the grave misunderstanding of basic concepts that Himbara exhibits in his debt narrative. Firstly, access to financing (loans, grants) has more to do with creditworthiness than need, meaning that debt levels in an economy are determined by economic outlook and projections. The United States of American is the most indebted economy yet also the most prosperous economy!

With the global Covid-19 pandemic, all economies suffered to varying degrees and restructuring, refinancing and readjustments inevitably followed. Sponsored by Museveni, Himbara will be aware that the Uganda’s regime reputation for rampant corruption and mismanagement hampers the Ugandan regime ability to raise funds. His logic, non-sequitur, is that Rwanda’s ability to secure financing can somehow be used to harm it! Well, if Museveni’s corruption has him in economic difficulties, Himbara’s lies will not rescue him.

Himbara’s online smear attack are definitely not valid economic analysis, they are feel good posts for his sponsors. After all, for more than 11 years, he has been wrongly predicting economic doom and exposing his fraudulent tactics of grossly misquoting various reports.