Uruguay: With the exchange rate delay “we made the export sector pay a heavy burden,” said Luis Romero Álvarez

The director of the consulting firm Profesionales, Luis Romero Álvarez, referred to the country's economic situation and indicated that "there was a significant exchange rate lag during this entire period, recognized even by the Central Bank itself, which estimated it at 15%, which is a considerable sum for the agricultural sector, although I think it could be even higher." In an interview on Valor Agregado on Carve radio, Romero Álvarez explained that this exchange rate lag is a consequence of the fiscal deficit and that Uruguay maintains a very closed economy with the outside world. "This is not the fault of this government; it is something that has been going on for a long time. However, the current administration chose to pesify the economy, seeking to bring the Uruguayan peso closer to the value of the Brazilian real." "We have always been a bimonetary economy, and it worked well," he said. The specialist highlighted that, during this administration, “the dollar strengthened ...