The Central Bank of Uruguay will award three securities of between 27 and 189 days in the first week of 2024.
Within the framework of its funding strategy in pesos, the Central Bank of Uruguay (BCU) will place three titles of domestic public debt with maturities between 27 and 189 days, for a total of 14.9 million pesos.
The first award of the year will take place this Tuesday, January 2, at 2 p.m., when the title in pesos will be put out to tender for 4.2 billion pesos (about 107 million dollars), with a term 27 days and a maturity scheduled for January 29, 2024. Of that total, 840 million pesos (21.5 million dollars) will be non-competitive placements, with the integration date on the same day.
In turn, on Wednesday the 3rd, at the same time, the title in pesos will be tendered for the same amount, but with a period of 91 days, and a maturity date of April 3, 2024, with an integration date on the same day and also a non-competitive amount of 840 million pesos.
To close the first week of the year, on Friday the 5th a title in pesos will be awarded for 6.5 billion pesos (about 166 million dollars) with a term of 189 daysintegration on the same day and a maturity date of July 12, 2024. Of the total, 1,300 million pesos (about 33 million dollars) will be non-competitive placements.
Sovereign debt is at historic levels
In this way, the government will continue this year with the management strategy of debt that he Ministry of Economy and Finance (MEF) has been carrying out as a pillar of the debt policy, through the special issuance of domestic debt in the form of Treasury Notes in Indexed Units (UI), in nominal weights (UYU) and in Pension Units (UP).
The Debt Management Unit (UGD) of the MEF published the Debt Report in recent weeks where it was reported that Uruguay reached the historical maximum of 55.9% in the percentage of debt in local currency within the total debt of the State.
From the UGD they consider that the government thus continued “taking significant steps in the de-dollarization of the debt structure, reducing vulnerability to currency volatility”, something that coincides with the recommendations of the board of directors of the International Monetary Fund (IMF).
Source: Ambito
