Uganda’s deputy central bank governor, Michael Atingi-Ego, has stated that the country has made significant progress in negotiations with the World Bank about its anti-gay legislation.
The World Bank froze new loans to Uganda in August due to the country’s anti-LGBTQ+ legislation, which is one of the harshest in the world.
Atingi-Ego admitted that the World Bank statement caused the Ugandan currency to drop sharply, but said it has since rebounded.
The Ugandan government has been in communication with the World Bank since the suspension of loans, and Atingi-Ego said that the negotiations are moving well. However, he would not guarantee a resolution before the end of the year.
Atingi-Ego said that the suspension of new loans could cause problems in the future if a solution is not found.
Uganda’s Anti-Homosexuality Act (AHA), which was signed into law in May, is being challenged in court. The Constitutional Court took a preliminary step toward hearing the case this month.