This was not because they have no links with financial markets abroad; rather it was because of the nature of these links. Ugandan banks are net creditors with financial institutions abroad. In addition, the assets which Ugandan banks hold abroad are mostly low risk and highly liquid.
Strong growth produces higher income and wealth, thus increasing the net worth of households and firms and reducing their leverage. Robust economic growth also boosts government revenues and reduces expenditure, especially when large automatic stabilizers are in place, thus leading to a rapid reduction of the government debt-to-GDP ratio.