Alfredo Baldomir

Alfredo Baldomir served as the president of Uruguay from 1938 to 1942, during a period of economic uncertainty following the Great Depression and the onset of World War II. His presidency, along with that of his predecessor Gabriel Terra, implemented a conservative response to the economic crisis. This included interfering with labor unions and postponing social legislation, while also attempting to preserve foreign markets and halting the nationalization of foreign enterprises.1

Despite advocating for free-market principles, the government took a more active role in the economy by managing foreign exchange, constructing a hydroelectric dam, and hiring public employees based on political quotas to ease unemployment and maintain support. The onset of World War II brought prosperity as European nations purchased Uruguayan goods. A new constitution in 1942 allowed all political parties to operate freely, and Uruguay's manufacturing sector grew significantly.1