Uruguay: Central Bank Transparency Code Review

IMF Staff Country Reports, July 21, 2022

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Uruguay: Central Bank Transparency Code Review

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Bibliographic details

• Published: July 21, 2022
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400215391.002

Overview

• This paper highlights Uruguay’s Central Bank Transparency Code (CBT) Review.
• The Central Bank of Uruguay (BCU) is implementing transparency practices that are broadly aligned with the good practices for central banks.
• Improving communication with domestic and international stakeholders is a significant pillar of the medium-term strategic plan.
• The well-developed communication framework and architecture were assessed to be comprehensive in this IMF CBT review.

Key findings

• General information about the BCU’s legal structure and mandate are disclosed.
• The annual report and website contain the core information.
• The BCU has developed a transparent and efficient system to safeguard the rights of financial consumers.
• The BCU has put in place a model system on consumer protection that inspires public confidence and trust.

Areas for improvement

• Enhanced transparency about the scope and depth of institutional, personal, and financial autonomy could be improved.
• Some important elements require complete information or simpler translations from the legal language.
• Additional transparency in some areas of governance is needed to enhance institutional accountability.

Subject coverage and keywords

• Subject: Central banks, Crime, Financial sector policy and analysis, Foreign exchange, International organization, Monetary policy, Public financial management (PFM)
• Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banco de la República Oriental del Uruguay, CBT review summary, Financial sector stability, Financial statements, financial system report, Foreign exchange intervention, Global, IMF central bank transparency code, IMF mission, International reserves, staff team of the International Monetary Fund

Content in this bundle

• Uruguay: Central Bank Transparency Code Review; IMF Country Report No. 22/234; June 16, 2022
  • Uruguay: Central Bank Transparency Code Review; IMF Country Report No. 22/234; June 16, 2022 (Markdown version)
  • Uruguay: Central Bank Transparency Code Review; IMF Country Report No. 22/234; June 16, 2022 (PDF)