Uruguay Resident Representative Site
Resident Representative Office in Uruguay
This web page provides information in on the activities of the Office, views of the IMF staff, and the relations between Uruguay and the IMF. Additional information can be found on Uruguay and IMF country page, including official IMF reports and Executive Board documents in English and Spanish that deal with Uruguay.
News and Highlights
Latin American countries are recovering more strongly than expected from the global recession, but the pace of that recovery varies across the region, said Nicolás Eyzaguirre, Director of the IMF’s Western Hemisphere Department.
Uruguay and The IMF
Navigating Monetary Policy in the New Normal, Monetary Policy in a Changing Financial Landscape, Speech by Christine Lagarde at the ECB Forum on Central Banking
Press Release: Statement by IMF Deputy Managing Director Naoyuki Shinohara at the Conclusion of his Visit to Uruguay
February 11, 2014
Series: Country Report No. 14/42
Regional Economic Outlook: Western Hemisphere
Growth in Latin America and the Caribbean (LAC) has slowed down more than anticipated, as weak dynamics in South America have outweighed an incipient recovery in Mexico. Lower-than-expected external demand and softer terms of trade explain some of the weakness, but domestic supply-side bottlenecks and policy uncertainties have also weighed on confidence and private demand in several economies. Notwithstanding the projected pick-up in activity over the period ahead, growth is projected to be as low as 1.3 percent in 2014 and 2.2 percent in 2015. Spare capacity remains limited, however, underscoring the urgency of supply-side reforms to boost productivity and potential growth. Monetary policy and exchange rate flexibility should continue to serve as the first line of defense against adverse shocks, while a looser fiscal stance is unwarranted in most countries, especially those with weak public finances. Financial sector risks bear close monitoring, as the confluence of lower growth, rising U.S. interest rates, and geopolitical tensions could pose a considerable challenge.