Monetary Policy Framework Enhancement

8 Proactive debt management strategies to de-risk debt portfolio while keeping borrowing costs contained Gross and Net Debt Stock of the Central Government (As of end-period, in % of GDP) Currency and Maturity Composition of Debt (As of end-period) 80 Foreign Currency (FX) 100 60 40 20 Gross Debt Net Debt 61.8 80 57.0 15 13.3 13 60 51.4 11 40 20 9 7 2016 2017 2018 2019 2020 2021Q3* 2005 2009 2013 2017 2021Q3 (*) Preliminar Source: Debt Management Unit, Ministry of Economy and Finance of Uruguay 31

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