During her tour of the North American nation, the Economy Minister emphasized the promotion of finance linked to climate change.
The minister of Economy and Finance (MEF), lily arbelechehighlighted the macroeconomic strength of the Uruguay before investors in USA, and emphasized the efforts of our country to promote financial instruments linked to climate change. The visit of the head of the MEF to that country takes place within the framework of the spring meetings of the world Bank (BM) and the International Monetary Fund (IMF) in Washington D.C.
Among the various activities that he has carried out are his exhibition on the georgetown universityhis participation in the Itaú LatAm Dayand his meeting at the World Bank with representatives of the Federal Ministry for Economic Cooperation and Development of Germany.
The Itaú Latam Day event was attended by economic analysts, global investors, economy ministers, presidents of different central banks, as well as Banco Itaú’s Macro team. There, Arbeleche explained that at the macro level, our country is “predictable and prudent”, having “fiscal discipline“, and a “stable” social and political landscape.
In turn, he highlighted the commitment of the Executive power to promote structural reforms focused on long-term development objectives and the fiscal solvency of the State. Also, he recalled the strategy of openness to free trade and international integration as the economic banner of the national government, as well as the search for the private sector to play a leading role.
Arbeleche ITAU.jpeg
Photo: MEF
Arbeleche highlighted Uruguay’s fight against climate change in Washington DC
During her participation in the colloquium called “Overcoming challenges to combat climate change in Latin America”, organized by the Georgetown Americas Institute and the Eurasia Group, the minister highlighted the country’s efforts to internalize international guidelines against climate change in terms of economic policy, both in debt markets and in multilateral loans.
Along these lines, the chief detailed the preparation and issuance of the bond indexed to climate change indicators that was successfully carried out in October 2022 for the international market, as well as its innovative structure that links the interest rate to the fulfillment of targets for reducing the intensity of greenhouse gas emissions and the conservation of the native forest.
Finally, he raised the need for multilateral organizations to develop financial tools that contain positive incentives to reward the environmental performance of countries, by reducing the interest rate paid on loans.
Source: Ambito
