Nonetheless, investors' new-found confidence in emerging markets does reflect one reality, namely that many emerging economies are in far better shape than ever before to weather broader financial turmoil. Impact on East Africa In East Africa, our money markets have so far been relatively unaffected.
Our banking systems within the region had very little exposure to the sub-prime market and as such, there has not been a need for the Bank of Uganda or any of the regional central banks to provide extra liquidity to markets, for this purpose.