Uruguay: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Uruguay

March 30, 2009

Preview Citation

Format: Chicago

Uruguay: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Uruguay, (USA: International Monetary Fund, 2009) accessed November 27, 2024

Summary

Uruguay has consolidated economic gains, supported by strong macroeconomic policies and a broadly favorable external environment. Growth has exceeded expectations, unemployment has reached record lows, and poverty has continued to fall, while economic vulnerabilities have been significantly reduced. Despite strong credit growth, financial system soundness indicators have improved, showing a well-capitalized banking system, low nonperforming loan ratios and high liquidity levels. Executive Directors have welcomed the measures the authorities have taken to reduce inflationary pressures, including increases in the policy rate and banks’ reserve requirements and tax administrative measures.

Subject: Banking, Credit, Currencies, External debt, Inflation, Money, Prices, Public debt

Keywords: Central bank reform, CR, Credit, Currencies, Downside side risk, Draft law, Global, Headline inflation, Inflation, Inflation expectation, ISCR, Monetary policy, Staff report

Publication Details

Pages:

59
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/104
Stock No:

1URYEA2009002
ISBN:

9781451839449
ISSN:

1934-7685

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