Uganda Real Interest Rate
Real interest rate FR.INR.RINR
Uganda's real interest rate was 14.75% in 2018, ranked 108th globally. This represents a 7.2% decrease from 2017. Data from World Bank, covering 1983–2018.
Overview
Uganda's real interest rate stood at 14.75% in 2018, a decline of +1.14pp from 2017. Uganda ranked 108th globally.
Uganda’s real interest rate has been highly volatile over the 35‑year series, swinging from a record low of –53.44% in 1988 to an all‑time high of 23.00% in 2002 before settling at 14.75% in 2018, which placed the country 108th globally. The sharp negative rates of the late 1980s reflected severe macro‑economic dislocation, while the early‑2000s peak coincided with tighter monetary policy aimed at curbing inflation. By 2018 the rate remained markedly above that of Tanzania (13.99%) and Timor‑Leste (15.02%), suggesting a comparatively restrictive stance in the region. The persistent elevation above peer averages indicates that Uganda continues to prioritize price stability, but the lingering volatility implies sensitivity to external shocks and fiscal imbalances. If inflation pressures ease and fiscal consolidation progresses, the real interest rate may gradually decline, aligning more closely with neighboring economies and supporting sustainable credit growth.
Data & projection
| Year | Real Interest Rate | YoY change | Rank |
|---|---|---|---|
| 2018 | 14.75% | −1.14pp | #108 |
| 2017 | 15.89% | −2.34pp | #125 |
| 2016 | 18.23% | +1.68pp | #128 |
| 2015 | 16.55% | +0.88pp | #114 |
| 2014 | 15.68% | −3.34pp | #127 |
| 2013 | 19.01% | −2.47pp | #138 |
| 2012 | 21.49% | +10.11pp | #133 |
| 2011 | 11.37% | −2.39pp | #123 |
| 2010 | 13.76% | +48.50pp | #127 |
| 2009 | -34.74% | −47.99pp | #1 |
| 2008 | 13.24% | +2.26pp | #126 |
| 2007 | 10.98% | −4.93pp | #114 |
| 2006 | 15.91% | −5.86pp | #128 |
| 2005 | 21.77% | +17.43pp | #128 |
| 2004 | 4.34% | −5.99pp | #52 |
Detected Pattern
Analysis
Uganda matched the Orthodox Tightening Cycle pattern in 2011. Historically, 57% of countries showing this pattern (177 out of 311) saw real interest rate improve within 24 months. View full analysis →
Frequently Asked Questions
Uganda's real interest rate was 14.75% in 2018. Ranked 108th globally. This represents a 7.2% decrease from the previous year.
Uganda's real interest rate peaked at 23.00% in 2002.
The lowest real interest rate in Uganda was -53.44% in 1988.
Uganda ranks 108th globally in real interest rate as of 2018.
The World Bank indicator code is FR.INR.RINR. Data sourced from World Bank.
The real interest rate of Uganda in 2018 was 14.75%. This ranks 108th in the world.
Cite this page
@misc{historysaid_uganda_real-interest-rate,
title = {Uganda Real Interest Rate},
url = {https://historysaid.com/uganda/real-interest-rate/},
publisher = {HistorySaid},
year = {2026}
}