The government of Uruguay signed an agreement with Inter-American Development Bank (IDB) for 145 million dollars to boost the economic recovery of the country after the Covid-19 pandemic.
Its about Program to Strengthen Public Policy and Fiscal Management to Address the Health and Economic Crisis Caused by Covid-19 in Uruguay IIand was signed by the Minister of Economy and Finance (MEF), Azucena Arbelecheduring the annual meeting of the IDB and IDB Investwhich took place in Panama between March 17 and 19.
The funds will be oriented, mainly, to protection policies of vulnerable households and access to liquidity for micro, small and medium-sized companies (Mipymes), and it is the second programmatic operation in support of the government’s strategy to face the effects of the pandemic.
The money will make it possible to design and implement effective and fiscally responsible measures, promoting the availability and timely execution of public resources to address the crisis. In addition, the operation seeks to strengthen the countercyclical effect of fiscal policy through temporary measures that also support the provision of essential goods and services and promote economic and fiscal recovery.
Uruguay is the first country in the region in completing the IDB program.
Arbeleche’s agenda during IDB meetings
In addition to signing the agreement with the IDB, Arbeleche held meetings with the head of the delegation of USA before that institution Alexia Latortue, and the governors of Argentina Brazil and Chili before that entity, Sergio Massa, Simone Nassar Tebet and Mario Marcel, respectively, among other representatives of foreign governments and the private sector.
The minister also attended a seminar on challenges and opportunities in the face of climate changein which he called for the evolution of the supply of financial instruments from multilateral organizations, which could contemplate the reduction of rates for countries that contribute to regional and global public goods.
The Uruguayan delegation that attended the conference was also made up of the director of the Debt Management Unit (UGD), Herman Kamil; the executive director of Uruguay before the IDB, Santiago Cat, and the counselor Dario Kagelmacher.
Source: Ambito
