Uruguay's Executive Branch Tuesday admitted the Central Bank (BCU) reserves were below their legal threshold by Dec. 31, 2022, and a capitalization plan was therefore needed.Add your comment!
Uruguay's Central Bank (BCU) Thursday issued a report showing the country's economy for the third trimester of 2022 remained at similar levels to those of the second quarter of the year.
The Uruguayan Exporters Union (UEU) Monday expressed its concern about the current parity between the local currency and the US dollar which was in its view affecting foreign trade.
Uruguayan President Luis Lacalle Pou Friday took part in a ceremony marking the 50th anniversary of the so-called Andes tragedy, an airplane crash that made history since many victims survived after being left for dead.
In its National Accounts report published Friday, the Central Bank of Uruguay (BCU) announced that the country's economy had grown 7.7% in the second quarter of 2022 mainly due to the high yields achieved in the soybean harvest.
Uruguay's Central Bank (BCU) President Diego Labat said Tuesday that he expected economic growth to remain steady and heralded that inflation by the end of 2022 will be below the level “we have today.”
Uruguay's Central Bank of Uruguay this week ordered a 50 basis point increase in the interest rate policy, the eighth straight increase since last August. The move, which brings the monetary policy rate to 9.75%, means the central bank has ordered 525bp of increases in total over the past 11 months. The 50bp hike was somewhat smaller than the four previous hikes, which included April’s 125bp increase and three 75bp hikes.
Uruguay's central bank on Tuesday announced an increase of 75 basis points to 9,25%, in its monetary policy reference rate, meaning also the bank has entered the contractive phase, as so many other Latin American central banks, in an effort to rein in inflation.
According to a study by Uruguay's Central Bank released Wednesday, the country's economy has grown 4.4% in 2021, despite all COVID-19 restrictions. The new figures show a recovery from 2020's fall due to the sanitary measures in force, which led to a decline in GDP of 5.9%.
Although 76% of deposits in Uruguayan banks are in US dollars, credit rating consultants Moody's have said there was nothing to fear.