Uruguay: central bank reserves plummet

The reserves of the Central Bank of Uruguay (BCU) continued their free fall and reached a new historical low on Friday 14 March at 488m dollars compared to 506m dollars on Tuesday. Meanwhile, the government is seeking to renegotiate its public debt bonds in the United States.

The Central Bank president gave an assurance on Tuesday that Uruguay would continue meeting its payment obligations while it continues to consult its creditors. However, on Wednesday, the Fitch ratings agency lowered