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Uruguayan financial strength is the basis for greater social development, says the Economy Minister

The Minister of Economy of Uruguay, Danilo Astori, assured that Uruguay has a liquidity of about 5,000 million dollars and that "the financial strength" of the country is the basis to reach higher levels of social development.

Montevideo, Nov 22 (EFE) .- The Minister of Economy of Uruguay, Danilo Astori, assured that Uruguay has a liquidity of about 5,000 million dollars and that "the financial strength" of the country it is the basis for achieving higher levels of social development.

"Uruguay's financial strength is a basis for practicing the macroeconomic order, which is a characteristic fundamental to reach higher levels of social development, "said Astori, according to a note from the Uruguayan presidency.

Uruguay" has liquidity for some 5,000 million dollars to fulfill commitments next year for 3,000 million, "detailed the head.

" The country has available 2,400 million dollars in contingent loans in addition to 2,700 millions that are in the National Treasury, "he explained.

In addition, Astori indicated that Uruguay" has a comfortable international liquidity position with international reserves that they exceed 17,000 million dollars ", which means 25% of the country's gross domestic product.

According to information from the Presidency, debt management involves refinancing to avoid risks that prevent fulfilling commitments and reducing the exposure of foreign exchange risk.

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