How prepared is Uganda as US-Iran war starts to bite?
Uganda's economy is facing potential shocks due to the US-Iran conflict, with rising global oil prices and exchange rate volatility posing significant risks to the country's external and inflation outlook. The government and Bank of Uganda are taking measures to mitigate these effects, including tightening monetary policy to drain liquidity and reduce inflationary pressures.
The US-Iran conflict is affecting Uganda's economy. Global oil prices have risen sharply, posing risks to the country's external and inflation outlook. The Bank of Uganda has increased the cash reserve requirement to tighten monetary policy and reduce inflationary pressures. The Uganda Shilling has depreciated against the US dollar, with a 4.5% depreciation in March 2026. The government is seeking to insulate the economy from the effects of the conflict. The Bank of Uganda is monitoring the situation and taking measures to maintain macroeconomic stability.
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