As a journalist, I am pleased to report that Uruguay’s credit rating has been upgraded by Fitch Ratings due to the country’s fiscal resilience. Fitch Ratings, one of the world’s leading credit rating agencies, has upgraded Uruguay’s long-term foreign currency issuer default rating (IDR) to ‘BBB-‘ from ‘BB+’. The outlook on the rating is stable.

According to Fitch Ratings, Uruguay’s credit rating upgrade reflects the country’s strong fiscal position, which has been supported by a track record of prudent macroeconomic policies and a commitment to fiscal discipline. The agency also noted that Uruguay’s debt sustainability has improved, with the country’s debt-to-GDP ratio expected to decline over the medium term.

This credit rating upgrade is a positive development for Uruguay, as it will help the country attract foreign investment and access international capital markets at lower borrowing costs. It also reflects the country’s efforts to maintain a stable and sustainable fiscal position, which is crucial for long-term economic growth and development.

However, it is important to note that credit ratings are not a perfect indicator of a country’s economic health, and they should be viewed in conjunction with other economic indicators and factors. As a journalist, it is my responsibility to provide accurate and balanced reporting on this issue, and to continue to monitor developments in Uruguay’s economy and credit rating in the future.