S&P affirms Uganda

Standard & Poor’s said it affirmed its B/B foreign and local currency long- and short-term sovereign credit ratings on the Republic of Uganda.

The outlook is stable.

S&P said the ratings on Uganda are constrained by low per capita GDP, high current account deficits, and large fiscal deficits. However, the ratings are supported by solid GDP growth, led by investment in the country’s main economic sectors.

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