The Ministry of Economy and Finance (MEF) continued this Tuesday with its calendar of public debt issuances in the domestic market corresponding to the July-September semester. On this occasion, the The Debt Management Unit of the MEF tendered $500 million (equivalent to US$12.2 million) for the reopening of the Treasury Note in nominal pesos maturing in 2025.
The authorities ended up accepting a total of $669.2 million (US$16.3 million) with an interest rate of 11.8%., half a point more than the 11.29% that it paid for the tender it held in August and more than 2 points above the 10.68% in June. Inflation closed in the 12 months ended September at 9.95% and economic agents project a rise in prices on an axis of 7% for the next two years.
The government had the possibility of taking up to double the tendered amount ($1,000 million), an option that it did not take on this occasion. The volume offered by investors to acquire this debt far exceeded the offer: $2,134 million (about US$52 million).
Uruguay’s country risk closed this Tuesday at 120 basis points, according to the index published by República AFAP.
The Executive Power must obtain funds for US$ 4,479 million to cover its financing needs in 2022. A large part of these resources (US$ 3,714 million) is expected to be obtained through debt issuances in the domestic and international markets, while another US$ 550 million come from multilateral and financial organizations, according to the latest Debt Management report. of the MEF.
