Private analyst estimation for 2015
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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.
New Treasury Notes Auction
January 20th, 2015. NEW. As announced in the issuance calendar for October 2014 - March 2015, the Central Government will reopen the CPI-linked Treasury Notes (UI Notes) due 2025 for sale by auction on January 27th.
Access the Press Release for further information.
CPI-linked Treasury Notes Series 2 payment
December 12th, 2014. The Ministry of Economy and Finance will allow for the possibility to choose between dollars and local currency for the payment of principal and interests of the CPI-linked Treasury Notes series 2 with maturity 12/23/2014.
Click here to access the Press Release (only available in Spanish).
Domestic Market Issuance Program October 2014 - March 2015
October 9th, 2014. The Central Government launches today its Issuance Program for the next six months in the domestic market.
Click here to access the Press Release. Please refer to Local Auctions for more information.
MEF removes reserve requirements on CG local securities to non residents
October 3rd, 2014. Click here to read Central Bank "Circular Nº2202" for further information (available in spanish).
September 30th, 2014. The Ministry of Economics and Finance (MEF) and the Central Bank of Uruguay (CBU), decided to reduce down to 0% the reserve requirements to non-residents' holdings of local securities issued in domestic currency by the Central Government and to reduce from 50% to 30% the already operating for the CBU Securities.
Click here to access the Press Release (in Spanish only).
Uruguay Macroeconomic Outlook
September 16th, 2014. The Minister of Economy and Finance of Uruguay, Mario Bergara, presented today the country's macroeconomic outlook.
Please click here to see the presentation and here to access the document.
Japanese Rating Agency upgrades Uruguay to Investment Grade Status
August 29th 2014. The Japanese Rating and Investment Information, Inc. has upgraded Uruguay´s long term foreign currency credit rating to "BBB-", with stable outlook.
Thus, Uruguay has been acknowledged with Investment Grade Status by the five credit agencies that evaluates the country.
Click here to access the Press Release.
S&P Credit Report
August 11th, 2014. S&P presented its vision of uruguayan economy's current state and what to expect for the future. Click here to access the Report.
Offer to Purchase Acceptance of Tenders
June 11th, 2014. The Republic announced today the aggregate principal amount of Preferred Tenders and Non-Preferred Tenders of each series of Old Bonds that has been validly tendered and accepted pursuant the Offer to Purchase, dated June 10, 2014.
Click here to access the Press Release
Uruguay issues USD2.0bn in Global Bonds due 2050
June 10th, 2014. The Republic announced today that it priced a global offering of US$ 2.0 billion aggregate principal amount of its U.S. dollar denominated 5.100% bonds due 2050, at 5 p.m. New York Time. The closing of the New Bonds Offering is expected to occur on June 18th 2014.
Global offering of USD bonds due 2050 & Cash Tender Offer
June 10th, 2014. The Republic announced today the commencement of a global offering of a series of global bonds due 2050 to be denominated in U.S. dollars. Uruguay also announced today the commencement of an offer to purchase for cash the bonds in U.S dollars set forth in the Cash Tender Offer Invitation.
Click here to access the Press Release and the Cash Tender Offer Invitation.
Uruguay Ratings Affirmed At BBB- by S&P; Outlook Remains Stable
June 2nd, 2014. Standard & Poor's affirmed its 'BBB-' long-term and its 'A-3' short-term foreign and local currency ratings on the Oriental Republic of Uruguay. The outlook remains stable.
Click here to access the Press Release.
Uruguayan debt reaches highest credit rating in its history
May 29th, 2014. Moody´s Investors Service announced today that it raised the credit rating of the Uruguayan sovereign debt to "Baa2" and assigned a stable outlook.
This is the first time that one of the three main rating agencies upgrades Uruguay´s debt one notch above the lowest level of Investment Grade. Thus, Uruguay consolidates the credit improvement achieved in recent years, especially after recovering the Investment Grade in April 2012.
The "Baa2" rating places the Uruguayan economy in the same place as Peru and Brazil, according to this same rating agency`s criteria, and above Colombia´s rating of "Baa3".
According to Moody's, the pillars that underpinned this new improvement are: the strengthening of the Government's credit profile; the continuation of the economic growth based on high investment levels and productivity gains; a lower exposure to regional risk; and a higher diversification in export base. In the current context of uncertainty and risks in the capital markets, Moody´s considers that the Uruguayan economy looks less vulnerable to regional shocks and negative events related to commodity prices.
Click here to access the Press Release.
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