Uruguay's Financial Stability Committee, comprising the Ministry of Economy and Finance, the Central Bank of Uruguay, the Financial Services Superintendency and the Corporation for the Protection of Bank Savings, concluded that the national financial system is stable and able to continue supporting economic activity, supported by its solvency, liquidity and ability to respond to adverse scenarios. The committee reviewed current and potential macro-financial risks, citing continued international financial volatility, tariff measures adopted by some major economies and a downward revision of global growth expectations, alongside geopolitical risks linked to the war in Ukraine and the escalation in the Middle East that could disrupt global capital markets. Regionally, it noted Argentina’s remaining fiscal and social challenges despite some improvements, and highlighted that Brazil’s growth outlook requires attention regarding public finance imbalances. Domestically, it assessed the system as maintaining adequate solvency and liquidity, with moderate credit growth, low delinquency and a strong capital position, and reported that stress tests indicate readiness to absorb adverse scenarios. Regarding some companies linked to capitalization contracts in the livestock sector, the committee judged there would be no direct impact on financial system stability and reported that changes to the regulatory framework are being developed to support better management of related risks in future. It also reaffirmed continuous monitoring and coordination of actions to preserve financial stability.

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