Uganda: Banks Project Rise in Loan Default Rates

Kampala — Banks expect loan default rates to increase on the account of a volatile economic environment characterised by a weak shilling and rising inflationary pressures, according to the Bank Lending Survey Report released last week.

According to the 2017/18 fourth quarter report compiled by Bank of Uganda, businesses that hold dollar denominated loans are likely to default because of persistent depreciation of the shilling against the dollar.

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