IMF Staff Country Reports

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

Publication Date:

March 30, 2009

Electronic Access:

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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.

Series:

Country Report No. 2009/104

Subject:

Banking Credit Currencies External debt Inflation Money Prices Public debt