Country
Uruguay URY
score date 2026-10-10 · 30d -0.0
Seven dimensions
Credibility gap100.0
IMF / national CPI · as of 2026-06-01 · coverage: silver
Behind the curve64.1
BIS policy rates + CPI · as of 2026-07-01 · coverage: silver
Communication—
Central-bank statements · as of 2026-10-10 · coverage: silver
Geopolitical48.6
GDELT · as of 2026-10-10 · coverage: silver
Growth27.4
World Bank WDI / IMF WEO · as of 2026-10-10 · coverage: silver
Liquidity50.1
IMF BOP / BIS / FRED · as of 2026-10-10 · coverage: silver
Governance71.4
World Bank WGI · as of 2026-10-10 · coverage: silver
Uruguay sovereign credibility, in brief
Uruguay scores 63.1 out of 100 on the composite sovereign credibility index — credibility band 50–65. That ranks it 2 of 20 in Latin America & Caribbean, the 95th percentile of the region. The score has fallen 0.1 points over the past seven days. CPI 4.2% near 4.5% target — on target | adequate credibility (63/100).
As of 2026-10-10 · scored daily from public data under methodology v8
Executive summary
written 11 Oct · score 10 OctUruguay ranks second in the region on an adequate composite score, with inflation under target but policy scored as slow to respond.
- Composite position: The 63.1/100 score (adequate) sits above the 51.9 regional average.
- Credibility gap: The gap scores 100/100 because CPI at 4.2% is under the 4.5% target.
- Inflation vs target: Inflation at 4.2% gives the central bank room to hold its current stance.
- Policy stance: The 15.0% policy rate is restrictive, but a behind-the-curve score of 64.1/100 points to a slow response.
- Geopolitics: Pressure scores 48.6/100, driven by local narco killings in Montevideo with little direct macro channel.
- Watch item: The next CPI print against the 4.5% target, and any move in the 15.0% rate.
Peer context
Rank 2/20 in Latin America & Caribbean · 95th percentile
Region avg 51.9 · best 63.5 · worst 16.1
90-day trend
External pulse
- Port trade momentum, 30d YoY
- -26.4%
- as of 2026-10-11
- Commodity terms-of-trade, 12m change
- -0.4%
- as of 2026-10-11
- Electricity demand, YoY
- +1.7%
- as of 2026-06-01
Sources: Kpler; UN Global Platform; IMF PortWatch (portwatch.imf.org) · Terms-of-trade: IMF Commodity Terms of Trade · Electricity: Ember (CC BY 4.0)
Key indicators
External & activity
| Cpi monthly index | 118.1 | 2026-06-01 | ILO CPI |
| Current account (% GDP) | -0.5% | 2025-12-31 | World Bank |
| Electricity demand (TWh) | 1.2 | 2026-06-01 | Ember |
| FDI inflows (% GDP) | 2.3% | 2025-12-31 | World Bank |
| GDP growth, annual | 1.8% | 2025-12-31 | World Bank |
| Nightlights radiance (monthly sum) | 694.7K | 2025-12-01 | World Bank / NASA Black Marble |
| Nightlights radiance, YoY | 68.4% | 2025-12-01 | derived |
| Remittances (% GDP) | 0.2% | 2025-12-31 | World Bank |
| Reserves (months of imports) | 8.6 mo | 2025-12-31 | World Bank |
| Trade openness (% GDP) | 49.7% | 2025-12-31 | World Bank |
| Unemployment rate | 7.5% | 2025-12-31 | World Bank |
| Unemployment rate (ILO) | 7.3% | 2025-12-31 | ILO |
Structure
| GDP per capita (USD) | $25,216 | 2025-12-31 | World Bank |
| Government debt (% GDP) | 65.3% | 2024-12-31 | World Bank |
| Labor force participation | 65.5% | 2025-12-31 | ILO |
| WGI: control of corruption | 1.6 | 2025-12-31 | World Bank |
| WGI: government effectiveness | 0.9 | 2025-12-31 | World Bank |
| WGI: political stability | 1.3 | 2025-12-31 | World Bank |
| WGI: regulatory quality | 0.6 | 2025-12-31 | World Bank |
| WGI: rule of law | 0.9 | 2025-12-31 | World Bank |
| WGI: voice & accountability | 1.2 | 2025-12-31 | World Bank |
Nightlights: World Bank / NASA Black Marble VIIRS (CC BY 4.0)
Follow the moves
Every figure above is recomputed daily from public data, with the source and as-of date shown for each one. The weekly briefing says which scores moved, and why.