Uganda Shilling drops more than UGX130 in 2 days after World Bank reacts to Anti-Homosexuality Act Experts fear it could get worse before it gets better, should other jittery and activist-besieged international lenders be emboldened by the World Bank’s cue

As Uganda comes to terms with the suspension by the World Bank of any future lending to the country over its recent passing of the Anti-Homosexuality Act (AHA) and what that could mean to a number of Bank-funded infrastructure and social service projects, another victim of the expected international pushback is the country’s currency- the Uganda Shilling. The Shilling which has, unlike its regional peers been resilient against the US dollar for much of 2023, opening the week at a strong UGX3600 on Wednesday 09th 2023 lost more than UGX40 in a single day’s trading, closing at an average of…