S&P also highlighted that the full impact of the coronavirus crisis has yet to materialise and more requests for sukuk restructurings and maturity extensions, as well as higher default rates, are expected this year.
Ugandan opposition leader Bobi Wine filed a legal challenge in the country’s supreme court on Monday seeking cancellation of the results of last month’s presidential election that handed victory to incumbent Yoweri Museveni, his party’s lawyer said.
The former guerrilla leader, who has led the East African country since 1986, was declared winner of the Jan. 14 vote with 59% of the vote, while Wine was given 35%.
Uganda’s government spokesman accused the United States on Tuesday of trying to subvert last week’s presidential elections after the U.S. ambassador attempted to visit an opposition leader being held under house arrest.
The sharp, public rebuke to the United States from the Ugandan government is relatively unusual as the two nations are allies.