Uruguay Ranks Among the Top Five Emerging Countries for Best Practices Toward Investors

Uruguay ranked among the top five emerging and developing economies in terms of investor relations and financial transparency, according to the 2026 edition of the Investor Relations and Debt Transparency Report, prepared by the Institute of International Finance (IIF). With a score of 47.38 out of a possible 50, the country ranked fifth among the 57 economies evaluated and second in Latin America, behind Brazil.

The country scored more than ten points above the sample average, which stood at 37 points. In Latin America, it also outperformed Mexico, Colombia, Chile, Ecuador, Costa Rica, Panama, Peru, Paraguay, Argentina, and Bolivia. The global ranking was led by the Philippines, Turkey, Brazil, and Hungary.

The IIF has conducted this assessment since 2005 to analyze the practices governments employ in their relations with investors, as well as the quality, availability, and accessibility of economic and financial information. The assessment considers 23 aspects, including the existence of formal investor relations programs, channels of communication with the market, the publication of historical and forward-looking information, and the availability of data on public finances.

One of Uruguay’s strongest performances was in public debt transparency, where it scored 12.1 points out of a maximum of 13—one of the highest scores in the sample. This indicator assesses the availability of information on the level and composition of debt, debt service, currencies, and maturities, as well as the ease of access to such data.

The country also achieved the highest possible score in the disclosure of environmental, social, and governance (ESG) information, with 4 out of 4 points—a result it shared with the Philippines, Hungary, and Chile. The report also highlighted Uruguay as a best-practice example in this area, noting the dissemination of information on climate and social commitments, debt instruments linked to those objectives, and progress toward meeting the targets set.

The IIF refers to the effect that clear, predictable, and timely public communication can have—by reducing investor uncertainty, broadening the base of potential financiers, and facilitating market access—as the “transparency dividend.” The organization notes that these practices do not replace economic and fiscal fundamentals, but they help investors more clearly assess the strengths and risks of each economy. In this context, Uruguay’s position reflects the consolidation of institutional mechanisms aimed at maintaining a stable and transparent relationship with the international investment community.