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Moody’s Ratings downgrades Uganda’s ratings to B3 from B2; upgrades outlook to stable

Gatekeepers of Uganda's Economy. Left-Right: Matia Kasaija, the Finance Minister; Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury and Dr. Michael Atingi-Ego the Deputy Governor, Bank of Uganda.
by Muhereza Kyamutetera
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Moody's Ratings (Moody's) one of the global leaders in credit ratings for companies, governments has downgraded the Government of Uganda's long-term foreign-currency and local-currency issuer ratings to B3 from B2 and changed the outlook to stable from negative. In a 17th May 2024 statement, Moody's said that the "downgrade of the ratings reflects diminished debt affordability and increasingly

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.