veri blog

Uganda has suddenly become the place where yield-hungry investors go to “squeeze the last drop” out of frontier markets. Offshore holdings of Uganda’s shilling government bonds have surged to around $2.7 billion , about 12% of total domestic government debt – a record high, driven largely by global funds rotating back into high-yield local currency paper. At the same time, the government has pushed out the curve with a 25-year bond , which in its latest auction cleared at a

When global investors start talking about “squeezing the last drop out of the lemon,” they’re talking about places like Uganda. In late November, Uganda’s shilling government bond market has quietly become one of the hottest frontier trades in the world. More than $2 billion of Uganda’s domestic government bonds are now held offshore – a record – with S&P Global estimating non-resident holdings at roughly $2.7 billion, about 12% of total domestic government debt . For a coun