- PROJECT TITLE: Uruguay Financial Capability Assessment
- PARTNER INSTITUTIONS: Central Bank of Uruguay (BCU); Equipos Mori
- TIMELINE: October 2010 - June 2012
Despite being one of the smallest countries in Latin America with approximately 3,300,000 inhabitants, Uruguay has a history of being a pioneer in technological and social innovation in the region. In keeping with this tradition of developing creative solutions to meet various social and economic challenges, Uruguay is taking a similar approach to the problem of financial illiteracy. The Country sought to benefit from the expert guidance of the Russia Trust Fund financial capability experts. In order to make use of the latest learning in this area, the Central Bank of Uruguay made a commitment to engage in this groundbreaking international study.
During November and December 2010, nine focus groups were undertaken both in Montevideo and in the interior of the country in the city of Tacuarembó. Thirty in-depth interviews were conducted in early 2011 to test and modify the survey questionnaire.
Following a pilot undertaken in December 2011 to refine the survey instrument and field strategy, the national survey was conducted in May and early June 2012. It was a face-to-face household survey on the total population of Uruguay, rural and urban, over 18 years of age. The survey was based on a 1400 respondent sample. Interviewers underwent rigorous training and the field work was closely supervised. The maximum margin of error calculated for this sample size is +/– 2.6%, with a 95% confidence interval. The results are presently being analyzed by the Country Team and the international expert group.