July 31st, 2017. The Debt Management Unit has released its quarterly reports on Central Government Debt and on the Uruguayan economy.

Key developments:

• The Uruguayan economy expanded 4.3% in real terms in 2017Q1, compared with the same period last year.

• Inflation in June dropped to a 11-year low, while inflation expectations for the next 12 months came within the inflation target band on July.

• The current account balance turned positive for the first time in 7 years.

• Moody's and S&P both improved Uruguay`s credit outlook to Stable from Negative, affirming its credit rating one notch above investment grade.

• The Republic issued its first-ever nominal fixed-rate global bond in local currency, maturing in 2022. JP Morgan announced its inclusion in the GBI-EM benchmark, effective today July 31st, 2017.

• The government announced its new issuance calendar of local-currency Treasury Notes in the domestic market for July-December 2017.

 

Debt Report 07/2017

Uruguay in Focus 07/2017