Investor Presentaiton
Key Credit Highlights
1
Strong economic growth continued in 2022, driven by foreign direct investment,
industrial production and higher commodity exports; leading indicators show a
2
slowdown going into 2023.
Steady annual improvement of public finances: fiscal targets met in 2022,
for third year in a row.
7
3
Tighter monetary policy focused on reducing inflation and anchoring
inflation expectations within target band.
4
5
Stable current account dynamics amid real exchange rate appreciation,
and large external buffers; banking sector with strong capitalization,
although still-high financial dollarization.
Government forges ahead with structural and market-friendly reforms,
including social security, public enterprises, education and international
trade integration.
Uruguay among the top global performers on ESG fundamentals, and is a
bastion of institutional, social and political stability with lowest country
risk in LATAM.
Debt management strategies aimed at de-risking debt portfolio, while
keeping borrowing costs contained; sustainable financing strategies aligned
with environmental commitments under Paris Agreement.
2View entire presentation