"Uganda Is Not Spain"

Tyler Durden's picture

Nobody can forget how over the weekend Spanish PM Rajoy told economy minister de Guindos to keep a stiff upper lip, and that, lest someone forget, Spain is not Uganda.

Two days later nobody is laughing: Spanish bond yields just pushed to Euroarea records, Fitch just downgraded the bulk of Spanish banks, and it looks like Spain may need a second bailout before the details of the first one are even ironed out. However, one entity is not amused. Uganda. Or perhaps, is very amused, depending on one's perspective.

Al Jazeera responds:

The Stream spoke with Ugandan blogger Rosebell Kagumire, who started the hashtag #UgandaisnotSpain in response to the PM's remarks:

Many felt insulted at the implication that Uganda is economically weak.

Others compared the economies of the two countries: