Last night, Rwanda’s extravagant, selfish and egocentric king was at it again. Like in the past, an annual habit, he attended last night’s Champion league final between Real Madrid and Atletico Madrid.
While the Country is going through horrendous economic failures and unpleasant poverty; Rwanda’s self-proclaimed king was spending the Country’s meagre resources in feeding his addiction and uncontrolled celebrity lifestyle. The usual habit of living like a King of a petroleum producing state, rather than a ruthless ruler from a banana republic state.
As usual, the government spent the tax payer’s money in hiring a private transport jet from Kagame’s own Crystal Venture Company to take him for this game, the resources spent on hotels for him, his delegation which include advanced and close protection team, the parking airport fee -tax for the plane , the air tax – space tax which include pollution tax, foreign trip allowances for his delegation including his escorts, air tickets for his advanced escort team….etc. All these are paid courtesy of the state.
While the junta was is San Siro enjoying the Champion league, Rwanda’s economy is in a nose dive spiral. Price of commodities is increasing on daily basis, soon it will be uncontrolled inflation. The currency is losing its value, the central bank for long, have failed to stabilise the Rwandan francs against international currencies like the dollar. The government is facing high levels of trade deficit, importing more than it exports and this is due to medieval economic policies agitated by this criminal regime.
There is massive capital flight due to negative business conditions, irresponsible fiscal policies and political interferences, thus, small scale investors, local traders and businessmen are opting to relocate to neighbouring countries like Uganda and Tanzania or the Southern Countries of Mozambique, Zambia, Malawi and Angola. There is total lack of foreign currencies on the market, we all know the economic consequences of this!!
Mortgage foreclosures is rampant and on the increase, this is due to people losing their work – redundancy, business bankruptcies – collapses, inflation and high interest rates of these mortgages.
The country is facing high levels of unemployment especially among the youth. No clear government policy to curb this trend. As the economy continues to contract, the level of unemployment will also continue to increase. Rwanda’s minister of finance – Claver Gatete recently told the IMF that, the country is left with 3 months of reserved cash and it need IMF fund injection to re-boost the dying economy.
As the Junta lives a celebrity life style, the Country is living on credit card, the Country’s borrowing levels 2014 – 15 quadruples that of Burundi, yet both countries have a similar economic base. Rwanda’s credit rating has been down graded due to its loan payment failures, thus making borrowing rates to be high.
For the purpose of getting operational funds for this criminal government, while also maintaining the celebrity lifestyle of the Junta. The governmet has been putting on markets bonds, the majority of which have been bought/purchased buy
financial sharks at exuberant high interest rate. This has put the future generation at risk, the Country will service these debts at high interest rates.
As the Junta was wining and dining, civil servants are receiving salaries which doesn’t reflect the rate of inflation and in most cases salarues and wages being paid late.
Like in any totalitarian regime, as the Junta is enjoying in Milan, his paid apologists with the help of well paid Public Relations firms based in Western World; they will continue to paint doctored picture of Rwanda under Dictator Kagame as a heaven on earth. Just this week, a reknown sycophant and head of National Itorero Taskforce refered to Rwanda’s junta as “god”.
We all know that, Rwanda can’t be heaven when the smell of poverty has engulfed the whole Country. Rwanda can’t be heaven when nepotism, injustice and unfairness are daily occurrences. Rwanda can’t be heaven when inequality is a state norm. Rwanda can’t be heaven when human right abuses arecstate policies. Rwanda can’t be heaven when all freedoms have been suppressed by all means necessary.
According to Atifete Jahjaga, “Democracy must be built through open societies that share information. When there is information, there is enlightenment. When there is debate, there are solutions. When there is no democracy and sharing of power, there is no rule of law, no accountability, there is abuse, corruption, subjugation and indignation.”