BID: Se recomendó acción concertada por instituciones financieras para el Uruguay

CONCERTED ACTION BY INTERNATIONAL FINANCIAL INSTITUTIONS RECOMMENDED FOR URUGUAY

The Managing Director of the International Monetary Fund, the President of
the World Bank, and the President of Inter-American Development Bank
announced today that they will recommend to their respective boards that
financing be increased by amounts that would bring total financing for
Uruguay to $3.8 billion from the three institutions. They also announced
that they would recommend accelerating disbursements to Uruguay in order
to make about $1.5 billion available from the three institutions next week
when authorized by their respective boards.

In order to provide immediate financing to the Uruguayan government in
support of the banking system, the United States government has agreed to
provide up to $1.5 billion in bridge financing to Uruguay's central bank
until international financial institution loans are disbursed.

With the help of this new assistance, the central bank of Uruguay will
fully back 100% of sight and savings deposits in domestic banks in
Uruguay, enabling the Uruguayan people to access their deposits and the
payment system to operate effectively.

This concerted response by the international financial institutions should
restore confidence of depositors in Uruguay's financial system and help
Uruguay address the intense external pressures it has faced in recent
months.