Exhibit 4
República Oriental del Uruguay
Ministerio de Economía y Finanzas
Montevideo, August 6, 2026
Securities and Exchange Commission
100 F Street N.E.
Washington, DC 20549
United States of America
Ladies and Gentlemen:
I have acted as Legal Counsel to the Ministry of Economy and Finance of República Oriental del Uruguay (the “Republic” or “Uruguay”) in connection with the Republic’s offering pursuant to the registration statements (Files nos. 333-270970 and 333-297723) (the “Registration Statements”), filed with the Securities and Exchange Commission (the “Commission”) under Schedule B of the Securities Act, of an additional U.S.$399,364,067 aggregate principal amount of its 5.442% Global Bonds due 2037 (the “USD Bonds”) and an additional Ps. 52,177,088,971 aggregate principal amount of its 8.000% Global Bonds due 2035 (the “Ps. Bonds”, and together with the USD Bonds, the “Bonds”), which were issued under an indenture dated as of October 27, 2015 (the “Indenture”), between the Republic and The Bank of New York Mellon, as trustee.
The Registration Statement No. 333-270970, as of July 27, 2026, the date on which the most recent Form 18-K was filed as an amendment thereto, and Registration Statement No. 333-297723, insofar as they relate to the Bonds (as determined for purposes of Rule 430B(f)(2) under the Securities Act), but excluding the documents incorporated by reference therein, are herein called the “Registration Statements”; the related prospectus dated July 5, 2023, included in the Registration Statements, but excluding the documents incorporated by reference therein, is herein called the “Base Prospectus”; the preliminary prospectus supplement dated July 28, 2026 relating to the USD Bonds and the preliminary prospectus supplement dated July 28, 2026 relating to the Ps. Bonds, as filed with the Commission pursuant to Rule 424(b) under the Securities Act, including the documents incorporated by reference therein, are together herein called the “Preliminary Prospectus Supplements”; and the related prospectus supplement dated July 28, 2026 relating to the USD Bonds (the “Final USD Prospectus Supplement”) and the prospectus supplement dated July 28, 2026 relating to the Ps. Bonds (the “Final Ps. Prospectus Supplement”), as filed with the Commission pursuant to Rule 424(b) under the Securities Act, including the documents incorporated by reference therein, are together herein called the “Final Prospectus Supplements.” The Base Prospectus and the Preliminary Prospectus Supplements together are herein called the “Pricing Prospectuses,” and the Base Prospectus and the Final Prospectus Supplements together are herein called the “Final Prospectuses.”
In arriving at the opinions expressed below, I have reviewed the following documents:
| (i) | The Registration Statements, the Base Prospectus and the Preliminary Prospectus Supplements; |