IBOV 175,710.05 ▼ 0.51% IPC MEX 69,734.34 ▲ 0.38% MERVAL 2,848,945 — — USD/BRL5.34▼ 1.32% USD/MXN18.67▲ 0.55% USD/CLP984.35▼ 0.48% USD/COP3,137▲ 2.66% USD/PEN3.44— 0.00% USD/ARS1,538▼ 0.18% USD/UYU40.21▲ 3.57% USD/PYG5,803▲ 3.78% USD/BOB11.97▲ 4.93% USD/DOP60.45▲ 1.67% USD/CRC451.24▲ 2.13% USD/GTQ7.64▲ 3.23% USD/HNL26.87▲ 3.37% USD/NIO36.62▲ 2.81% USD/VES885.08▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 2.63% USD/TTD6.71▲ 2.07% EUR/BRL5.95▲ 7.47% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99% IBOV 175,710.05 ▼ 0.51% IPC MEX 69,734.34 ▲ 0.38% MERVAL 2,848,945 — — USD/BRL 5.34 ▼ 1.32% USD/MXN 18.69 ▲ 0.62% USD/CLP 983.47 ▼ 0.57% USD/COP 3,149 ▲ 3.06% USD/PEN 3.45 ▲ 0.17% USD/ARS 1,537 ▼ 0.28% USD/UYU 40.21 ▲ 3.57% USD/PYG 5,803 ▲ 3.78% USD/BOB 11.97 ▲ 4.93% USD/DOP 60.54 ▲ 1.83% USD/CRC 451.24 ▲ 2.13% USD/GTQ 7.64 ▲ 3.23% USD/HNL 26.87 ▲ 3.37% USD/NIO 36.62 ▲ 2.81% USD/VES 885.08 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 2.63% USD/TTD 6.71 ▲ 2.07% EUR/BRL 5.95 ▲ 7.53% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99%
since 2009
Tuesday, October 27, 2026

Africa Eastern Africa

Uganda defends controversial homosexual law amid World Bank funding freeze

By · August 10, 2023 · 2 min read

Yoweri Museveni, Uganda’s President, responded to the World Bank’s decision not to fund the African nation in light of a contentious law against homosexuality.

The country has introduced an anti-LGBT law, with the death penalty being applicable in some cases.

RT
Ask Rio Times
17 years of Latin America reporting, on demand.
Open the full Ask Rio Times →

It stipulates capital punishment for “serial offenders” against the law and transmission of a terminal illness like HIV/AIDS through gay sex.

It also decrees a 20-year sentence for promoting homosexuality.

Museveni asserted on platform X (previously known as Twitter), “Uganda will progress, with or without loans.”

(Uganda Passed Sweeping New Antigay Legislation)

He expressed disappointment in the World Bank’s attempt to influence Ugandan culture, principles, and sovereignty using financial means, emphasizing the nation’s autonomy.

Africa Intelligence

One email, every weekday morning. African markets, politics and business — filed from our newsroom in Rio.

Yesterday’s subject line: “Egypt clears forces for Saudi, Red Sea oil at risk”

Free. We send a confirmation link first — nothing arrives until you click it. Unsubscribe with one click in any edition. If you stop opening us for 30 days we stop sending by ourselves, as we assume the interest is no longer there. See our privacy policy. We never share your email.

Museveni stated that Uganda didn’t need external pressure to address its societal issues and mentioned they would continue discussions with the World Bank to bridge differences.

Conversely, on the same platform, Ugandan opposition leader Bobi Wine questioned the Bank’s focus solely on gay rights, overlooking other significant human rights abuses in the country.

On a related note, the World Bank Group clarified that no new public funding will be provided to Uganda unless projects align with their environmental and social norms.

The institution highlighted its commitment to protecting sexual and gender minorities from discrimination in funded projects.

In late May, Museveni approved a controversial law against homosexuality that prescribes severe punishments.

While he had initially hesitated, calling for softer terms, the final legislation retains harsh clauses.

Specifically, promoting homosexuality knowingly can lead to a 20-year prison sentence.

This law has been widely criticized internationally by entities including the United Nations, the European Union, the USA, and human rights organizations.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

Part of our ongoing coverage

Africa: The New Scramble — the great-power contest over the continent.

More from Eastern Africa

Brazil runoff date: Sunday, October 25, poll closing times and when results start · Brazil runoff polls: Flávio 51%, Lula 49% · Kalshi and Polymarket odds

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.