Euromoney, is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Best borrowers 2007: Best sovereign borrower – Latin America: Republic of Uruguay

Heavily burdened republic picks the right time to clear expensive debt.

In 2002/03, Uruguay was in serious trouble – and ended up taking an enormous loan from the IMF and essentially defaulting on its bonds. It did so in a very market-friendly way, however, and there was a lot of goodwill towards the country in the international capital markets. This survived the election of leftist Tabaré Vázquez as president in March 2005.