Uganda: A positive story for the grim times
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Uganda’s performance under the IMF programme has thus far been encouraging
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But the second programme review, due at end-June, has still not been completed, hinting at structural reform slippage
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The risk of UGX overvaluation is still very present, but we still think that local Ugandan debt is attractive
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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