The Central Bank of Uruguay published remarks by its president, Guillermo Tolosa, delivered in Washington at an event during the International Monetary Fund and World Bank Spring Meetings with IMF Managing Director Kristalina Georgieva and finance ministers and central bank governors from across the Americas. Tolosa framed Uruguay’s approach over the past two decades as strategic risk management built on “buffers and diversification”, pointing to ample central bank reserve assets, banking capital and liquidity ratios “among the highest internationally”, and one of the longest sovereign debt durations in emerging markets. He also highlighted diversification of trade partners, debt currency composition and investor base, and a shift in energy sources toward renewables. On monetary policy, he emphasised strengthening the framework to anchor inflation expectations, including additional de-dollarisation measures to improve transmission, clearer communication, and an agenda aimed at decoupling prices from the exchange rate.
Central Bank of Uruguay 2025-05-02
Central Bank of Uruguay president outlines risk management and monetary policy priorities at IMF Spring Meetings
Uruguay's Central Bank President, Guillermo Tolosa, emphasized strategic risk management at the IMF and World Bank Spring Meetings, citing strong reserves, high banking capital and liquidity, and long sovereign debt durations. He noted diversification in trade partners, debt currency, and energy sources. Tolosa discussed enhancing monetary policy to anchor inflation expectations through de-dollarisation, improved communication, and decoupling prices from the exchange rate.