Unidad de Fomento


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Unidad de Fomento

A non-circulating currency in Chile. It is adjusted for inflation relative to the Chilean peso (it was formerly adjusted relative to the Chilean escudo) so that its value remains constant. It was created in 1967 and was originally used to help the Chilean government pay its loans for international development.
References in periodicals archive ?
"The domestic market is more mature and it is deeper, and currently UF rates are attractive for financing in the domestic currency," says Ureta, referring to the Unidad de Fomento (UF), Chile's inflation-indexed currency unit, which is used for project financing.
La unidad de fomento de la salud desarrolla los programas de promocion de la salud y prevencion de la enfermedad con la participacion de un equipo de salud multidisciplinario que incluye personal medico, paramedico y de disciplinas afines como docentes y del sector del desarrollo comunitario.
La llamada unidad de fomento, una divisa indexada, es una segunda fuente de conflicto puesto que su extendido uso para calcular no solo deudas y ahorros sino tambien alquileres y otros pagos, es una proteccion contra la inflacion y a la vez contribuye a esta.

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