Notably, a comparison to historical loss rates shows that the loss estimates we obtained significantly exceed those experienced in past recessions. The estimated two-year cumulative losses on total loans under the more adverse scenario averaged 9.1 percent across the 19 participating bank holding companies.
Remarks by Prof. Emmanuel Tumusiime-Mutebile Governor, Bank of Uganda At the High Level Stakeholders’ Engagement on  Building a 21st Century Ugandan Economy  Kampala Serena Hotel  Tuesday, September 3, 2019  The Bank of Uganda (BoU) has not only successfully achieved its inflation objective of low and stable inflation, but has done so while supporting economic activity.