Makrognosis

Uganda Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:UG

Model score46 / 1009 Nov 2026
Grade equivalentBBmodel-implied
BandSpeculative grade0–100 scale, 100 = strongest
Rank74th of 84economies scored

Makrognosis sovereign credit model scores Uganda at 46 out of 100 as of 9 November 2026, equivalent to BB on the familiar letter scale — speculative grade.

The score is unchanged from the previous assessment on 1 October 2026.

That places Uganda 74th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 54.3% of GDP, a fiscal balance of −6.7% of GDP, a current account balance of −7.8% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Uganda sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026202530354045Robomacro
Uganda sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202646.1BB
1 October 202646.1BB
31 July 202646.1BB
30 July 202623.1B-
26 July 202622.8B-
21 June 202634.2B+
18 June 202623.1B-
Get the Uganda sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/UG"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/UG",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Uganda, from official national and international statistics.

InputValueVintage
GDP per capitaUS$1,206.32026
Real GDP growth, 5-year average5.8%2026
Inflation, recent average3.6%2026
Government debt54.3% of GDP2026
Fiscal balance−6.7% of GDP2026
Current account balance−7.8% of GDP2026
External debt39.2% of GDP2026
Foreign-exchange reserves2.4 months of imports2026
Governance (World Bank WGI composite)−0.7942026

How Uganda compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
69Ecuador9 Nov 202649
70Kenya9 Nov 202649
71Serbia9 Nov 202648
72Algeria9 Nov 202648
73Laos9 Nov 202647
74Uganda9 Nov 202646
75Cambodia9 Nov 202646
76Bangladesh9 Nov 202645
77Egypt9 Nov 202643
78Nigeria9 Nov 202641
79Cameroon9 Nov 202640
80Pakistan9 Nov 202639

All 84 economies ranked →

Uganda economic indicators

Uganda Inflation Rate (CPI)Uganda Central Bank Rate (Bank of , daily)Uganda Ugandan Shilling per US Dollar (UGX/USD; Bank of daily indicative interbank mid rate)

FAQ

What is Uganda's credit rating?
Makrognosis sovereign credit model scores Uganda at 46/100 as of 9 November 2026, equivalent to BB (speculative grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/UG returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.