Investor Presentaiton
Key Credit Highlights
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Swift vaccination plan in 2021 has effectively contained the virus spread so
far, after virus surge in the first half of this year.
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Strong economic recovery underway, driven by foreign direct investment,
stronger industrial production and higher commodity exports.
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Fiscal targets met in 2020 under new fiscal rule; continued targeted
support for vulnerable companies and households during 2021,
while aiming for improved structural fiscal balance.
Monetary policy focused on reducing inflation and anchoring inflation
expectations, based on enhanced monetary policy framework.
Resilient current account and large international reserve buffers.
Government forges ahead with structural reforms, including social
security, public enterprises and international trade integration.
Uruguay is among the top global performer on ESG fundamentals; the
government is committed to climate action policies towards a low-carbon
economy.
Sovereign funding strategies focused on de-risking debt portfolio in a cost-
efficient way, as well as linking debt financing to environmental goals.
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