Ezra Suruma asks to be returned as Finance Minister

Suruma, 78, served as Minister of Finance between 2005 and 2009.

Speaking yesterday at a public dialogue on accelerating sustainable development goals through leveraging innovative financing, PDM, and science and technology, Suruma expressed interest in returning to the Finance Ministry, telling Prime Minister Nabbanja to push forward his message to President Museveni.

Good track record

Suruma highlighted his excellent performance during his short-lived tenure and also hinted at the possible reasons he was relieved of his duties.

“During my time as minister of finance, the economy grew between 7% and 10.3% in all the four years, and that is why I was awarded the best finance minister in Africa,” he said referring to the 2008 award by the international banking magazine “The Banker.”

“Rt. Hon Prime Minister, I think you should recommend me to be returned,” he added.

On why he was removed from the ministry, Suruma said it was partly because of his disagreements with the World Bank and the International Monetary Fund (IMF) which in his view, were putting extreme loan conditions on African Countries.

“I did not always agree with Bretton Woods institutions; in fact, I disagreed rather violently and I think that was why I was fired. I did not always agree with the conditionalities because although the loans were concessional, the conditionalities were hard.

Prof Suruma is currently serving his last term as the Chancellor of Makerere University, which position he has held since 2016.