MercoPress. South Atlantic News Agency
Moody's upgrades Uruguay's rating to Baa3, based on reduced 'vulnerabilities'
Moody's Investors Service last Friday announced it had upgraded Uruguay's government bond rating to Baa2 from Baa3, and assigned a stable outlook to the Baa2 rating. The upgrade was driven by the strengthening of Uruguay's sovereign credit profile, as reflected by the convergence of fiscal and debt metric, an overall government debt profile that is currently associated with moderate credit risks, and the country's reduced vulnerabilities to regional and commodity shocks. Read full article
Comments
Disclaimer & comment rules“Moody's anticipates will be supported by a steady increase in the investment ratio and productivity gains.”
Jun 02nd, 2014 - 11:43 am - Link - Report abuse 0Productivity gains! Ha, ha, ha, ha!
What a load of bollocks frankly. These illiterate, innumerate, murdering commie bastards running the country will have no truck with that!
Out of 3.28M men, women and children 600,000 “work” for the government. And why did Pepe claim there was no money to pay the judiciary and the rest of the teacher’s wage claim from TWO YEARS AGO? A claim that has recently been paid BECAUSE being an election year there can be NO wage increase due to the possibility of the incumbent wankers “bribing” these “workers” with their own money!
And not a word about the failure to control inflation: the killer for workers and investors alike. But hey, “No Money Pepe” is up there at joint one in the social inclusion stakes! Now I wonder where the inflation acceleration came from, that and his inilateral decision to hike fuel up by 10% early this year. Cupid stunts or what?
So the raring is irrelevant as far as the actions of the Tupas idiots are concerned.
I don't know Chris, Uruguay is moving in the right direction which is more than can be said for some countries in the region. Strong and consistent growth, increasing investment, low corruption (now ahead of Chile and only just behind the UK). Low government debt and buffer reserves - all indicate intelligent macro management of the economy.
Jun 02nd, 2014 - 01:10 pm - Link - Report abuse 0It still scores lowly on various “ease of doing business” evaluations, but even those numbers are improving.
I know these improvements are coming from before Pepe but credit where it is due, at least he has stuck to the programme.
If Uruguay were somewhere else besides Argentina. If Uruguay were not a member of Mercosur, the country will be in the Aa3 rating, as Chile and Mexico are today, enjoying much better credit terms and access to capitals. Geography is everything sometimes.
Jun 03rd, 2014 - 04:20 am - Link - Report abuse 0Poor ChristineR, she is about to choke with her own bile !!
Jun 03rd, 2014 - 11:59 am - Link - Report abuse 0(3) JoseAngeldeMonterrey
Jun 03rd, 2014 - 07:32 pm - Link - Report abuse 0You say...:
“If Uruguay were somewhere else besides Argentina...... the country would be in the Aa3 rating, as Chile and Mexico are today, enjoying much better credit terms and access to capitals. Geography is everything sometimes.”
I say...:
My dear Chamaco from Up North...
We agree about Méjico not being besides Argentina, but... What about Chile?
If you “Think” that “Geography is everything sometimes”, you should strive to know something about it...
@5
Jun 04th, 2014 - 01:50 pm - Link - Report abuse 0Uruguay´s geographic position is more vulnerable to Argentina and Brazil who are its immediate neighbours, than Chile´s. But I would say that apart from geopolitics, foreign policy also matters.
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