May 2nd, 2017. The Debt Management Unit has released its quarterly reports on the Central Government Debt and on the Uruguayan economy.

Highlights:

• The Uruguayan economy grew 1.5% during 2016, completing its 14th consecutive year of annual positive growth. 
• Inflationary pressures continue to subside, and March inflation was back inside the target band for the first time in 6 years. 
• The current account deficit (CAD) in 2016 shrank to 0.2% of GDP, its lowest level in a decade. 
• Government eyeing issuance of new benchmark-sized local currency, nominal fixed-rated bond to develop bond markets in Uruguayan pesos; fostering diversification of global investor base a priority. 
• Conversion of foreign currency-denominated multilateral loans into Uruguayan Pesos. 
• Swap of part of outstanding dollar-denominated 2027 global bond, into Euros. 
• Fitch Rating affirmed Uruguay's credit rating at BBB- with Stable Outlook.

 

Sovereign Debt Report 04/2017

Uruguay in Focus 04/2017