Investor Presentaiton
7
Funding Needs and Financing Sources for 2021
Cornerstones of debt management strategy: deepening local currency markets in a
cost-efficient way and proactive liability management operations
Flow of Funds in 2021
(US$ mm, projections)
FINANCING NEEDS
4,931
Primary Deficit (1)
1,264
Interests Payments (2)
1,513
Amortizations of Bonds and Loans (3)
2,003
Change in Financial Assets (4)
152
FUNDING SOURCES
4,931
Disbursements from Multilaterals and Fin. Instit.
600
Almost 70% of targeted
Total Issuance of Market Debt (5)
4,317
Others (net) (6)
14
issuance has been
completed
as of August.
Memo Item: Government Net Indebtedness (GNI)
2,762
Source: Ministry of Economy and Finance of Uruguay. The sum of the components may differ from the totals due to rounding).
(1) Excludes extraordinary transfers to the public Social Security Trust Fund (SSTF).
(2) Includes interests payments to the SSTF on its holdings of Central Government debt.
(3) For 2021, includes the obligations coming due on a contractual basis and bonds repurchased and early redeemed through July 30, 2021.
(4) Change in liquid assets of the Treasury and other financial assets (assets of the SiGa trusts and assets with other public sector entities, product of loans contracted by the Republic in
representation of the same); a negative value (-) implies a de-accumulation of assets.
(5) Includes bonds issued domestically and in international markets.
(6) Includes exchange rate and market price valuation effects.
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