Uruguay: Financial System Stability Assessment
IMF Staff Country Reports, May 31, 2013
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- Canonical URL
- Uruguay: Financial System Stability Assessment
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Bibliographic details
- Published: May 31, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484399255.002
Overview
- The buffers built in the aftermath of Uruguay’s 2002 banking crisis have shielded the financial sector from the effects of the global financial turmoil.
- Growth has been robust and the outlook continues to be favorable.
- Inflation persists but capital inflows have improved, and policy measures have been taken in response.
- Uruguay exhibits no obvious signs of near-term domestic macrofinancial vulnerability.
- The external risks to the economy and the financial system come from a fragile global environment.
- Policy measures are recommended to reduce dollarization.
Major Findings
- Banking-sector resilience: Buffers established after the 2002 banking crisis have provided protection against global financial turmoil.
- Macroeconomic performance: Growth has been robust and the outlook continues to be favorable.
- Inflation and capital flows: Inflation persists; capital inflows have improved and policy measures have been taken in response.
- Macrofinancial vulnerability: No obvious signs of near-term domestic macrofinancial vulnerability were identified.
- External risk exposure: External risks stem primarily from a fragile global environment.
Policy Recommendations
- Implement measures to reduce dollarization in the financial system.
Content in this bundle
- Uruguay: Financial System Stability Assessment; IMF Country Report 13/152; November 29, 2012