He Ministry of Economy and Finance (MEF) successfully completed the second broadcast of global bonds 2023 due to great demand from the international market.
He BIICC 2034 It remained yielding 5.6%, slightly below the value of the last business day of last week, of 5.7%. The high demand received (3.9 times greater than what was awarded) allowed the spread to be “compressed”, as indicated by the MEF.
According to him Center for Development Studies (CED)in 2023 Uruguay It was the country in the region with the lowest sovereign spread when issuing debt.
With the current placement of debt, to which must be added the issuance of Treasury Notes in national currency, the opening of the 2033 bond in nominal pesos and the exchange operation together with the Central Bank of Uruguay (BCU)the MEF has already managed to cover 86% of the financing needs for the current year from this source, some 4,682 million dollars.
This “green bond” It was issued last year and is indexed to compliance with climate change indicators linked to the reduction of gas emissions and the greenhouse effect, as well as the conservation of native forests. If these objectives are exceeded, Uruguay will face a lower interest payment after 2027.
Arbeleche highlighted the confidence of the financial markets in Uruguay
The head of the MEF, Azucena Arbelecheassured that “the result of this issue is another example of the trust that the country generates in the financial markets,” and that “since the beginning of this administration, work has been done to transmit certainties and responsible management of public money.” .
Likewise, he stressed that “this transaction demonstrates, once again, the institutional strength of the country and the credibility of public policies, which is positively valued inside and outside borders.”