Montevideo was selected as one of the smartest cities in Latin America in it Index of Cities in Motion (ICIM) of the IESE Business School. The capital of Uruguay It was ranked third among the cities in the region and rose four places in the global position.
Among the 183 cities in 92 countries—of which 85 are capitals—included in the ranking prepared by the institute led by professors Pascual Berrone and Joan Enric RicartMontevideo came in 119th place, improving its previous position by four places.
At the global level, the ICIM was led by London, while they continued to the British capital NY, Paris, Tokyo, Berlin, Singapore, Oslo, Amsterdam, San Francisco and Chicago.
This index takes into account the level of development that city economies have had, as well as improvements in human capital, social cohesion, environment, governance, urban planning, international projection, technology, mobility and transportation; all elements considered crucial in a world-class city.
In addition, Montevideo was in third place in the comparison among Latin American cities, and was ranked only behind Santiago de Chile (Chile) and Buenos Aires, Argentina). The top 10 was completed Mexico City (Mexico), Panama (Panama), São Paulo (Brazil), Bogotá (Colombia), Rio de Janeiro (Brazil), Medellin (Colombia) and rosary beads (Argentina).
Montevideo placed debt to acquire electric buses
The transportation system Montevideo placed debt securities for 37.3 million dollars, through a successful issue that was carried out through the Uruguayan Electronic Stock Exchange (Bevsa).
He Financial Trust of the Financing Fund for the Technological Renewal of Urban Collective Transport of Montevideo I offered titles for 248 million Indexed Units (UI) for the purchase of electric buses, receiving offers for 463 million UI, which means that demand exceeded supply by 87%. The average price was 106.03%, which represents a yield rate average for the investor of 3.48% annually. In this way, global demand and the average price made it possible to significantly reduce the financing cost for companies in the system, which was determined at just 50 basis points above sovereign debt securities in comparable terms.
It is worth noting that the trustor of the issue is the Montevideo Municipality (IMM) in her capacity as administrator of the fund. The titles have an associated coupon of 4.5% annual linear interest in UI, with payments of monthly installments of capital and interest.
The Director of Transportation of the Municipality of Montevideo, Pablo Menoni, He highlighted that “the success of the offer received is a support for the solidity of the system, and above all for the seriousness and commitment with which all its actors; companies, workers and authorities; “They face their responsibilities.”
Source: Ambito
