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About the Debt Management Unit
The Debt Management Unit (DMU) was created at the Ministry of Economy and Finance in 2005, seeking to develop an independent administration of the Government's financial obligations and cashflows.
The main objective of the DMU is to assure the Government's financing at the lowest possible cost given risk exposure parameters, based on a solid operational capacity, updated research methods and a proactive approach to the sources of funding.
DBRS Upgrades Uruguay to Investment Grade
May 7th, 2013. NEW DBRS has published the Annual Credit Report. Click here to access the report.
May 3rd, 2013. DBRS has upgraded the Oriental Republic of Uruguay's long-term foreign and local currency issuer ratings to BBB (low) from BB (high). In addition, the short-term foreign and local currency issuer ratings were upgraded to R-2 (middle) from R-3. The trend on all ratings has been revised to stable.
Click here to access the Press Release.
Domestic Market CG Next Issuances: April 23rd and 24th
April 17th, 2013. As already announced in the issuance calendar for February 2013 - July 2013, the Central Government will reopen the 3-Year Nominal Peso Treasury Note (Series 6) and the 5-Year UI Treasury Notes (Series 18) for sale by auction on April 23rd and April 24th, respectively. Access Series 6 - Press Release and Series 18 - Press Release for further information.
Fitch Upgrades Uruguay to Investment Grade; Outlook revised to Stable
March 21st, 2013. Fitch Ratings has published the Annual Credit Report. Click here to access the report.
March 7th, 2013. Fitch Ratings has upgraded Uruguay's ratings as follows:
- Long-term foreign currency (FC) Issuer Default Rating (IDR) to BBB- from BB+;
- Long-term local currency (LC) to BBB from BBB-;
- Short-term FC IDR at F3;
- Country Ceiling at BBB+
The Outlook is revised to Stable from Positive. Click here to access the Press Release.
Uruguay signed contingent credit line with IADB and strengthens its financial position
Click here to access the Press Release.
The Central Bank was designated as member of the Association of National Numbering Agencies (ANNA)
March 18th, 2013. Being in charge of the registration of the securities issued by the Government and ruled by national law, the Central Bank of Uruguay (CBU) has assigned ISIN and CFI codes according to ISO standards 6166 and 10962 to provide them with internationally recognized codes.
Uruguay prepaid IADB for USD 519 million
January 31st, 2013. On January 25th the Republic prepaid USD 519 million to the IADB for loans with interest rates higher than the current cost of funding of the country and with maturities below 2024. The prepayment was made under the new IADB reallocation program, through which prepayments generate additional space for new loans with the organism. The early cancellation makes room for a new Policy Loan with a Deferred Drawdown Option (PBL-DDO) for USD 550 million (currently under negotiation), a fast disbursing line to increase the Republic contingent financing. Moreover, this operation represented savings of USD39.2 million given the current funding-cost of the Republic in the international market at such maturities.
Uruguay already has contingent loans not yet disbursed with CAF for USD 400 million, with FLAR for USD 470 million and with World Bank for USD 520 million.
Domestic Market Issuance Program February 2013 - July 2013
January 23rd, 2013. The Central Government launches today its Issuance Program for the next six months in the domestic market.
Uruguay signed fast disbursing line for USD 260 million and increased contingent financing with World Bank to USD 520 million
12th December, 2012. The USD 260 million loan has been approved by the World Bank with a Deferred Drawdown Option (DDO), specifically created by the Bank for countries without an immediate need for financing. Uruguay also signed three other loans, with a regular schedule of disbursement, amounting the whole financing package to USD 448 million.
This DDO is part of the pre-cautionary financing strategy of the Republic in case an unforeseen deterioration of the external situation occurs, which includes contingent financing from multilateral institutions to secure short- and medium-term financing, together with the build-up of considerable fiscal reserves. The government has also contingent loans not yet disbursed with CAF for USD 400 million, with FLAR for another USD 470 million, and another DDO with the World Bank for USD 260 million.
Click here to access World Bank Press Release.