Uruguay: 2009 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Uruguay
IMF Staff Country Reports, February 23, 2010
Source details
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- Uruguay: 2009 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Uruguay
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Bibliographic details
- Published: February 23, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451839463.002
Summary
- The Uruguayan economy "has held up considerably well in the face of the global recession."
- "The impact of the crisis appears to have been relatively short lived."
- "Private consumption and investment decelerated while the unemployment rate rose only little and temporarily."
- "The policy response to the crisis has sought to balance different risks."
- "Executive Directors have welcomed the achievement of single-digit inflation over the last several years, while noting that inflation remains relatively high."
Key findings
- Economic resilience: The economy "held up considerably well" during the 2009 global recession.
- Duration of impact: The crisis impact "appears to have been relatively short lived."
- Domestic demand: "Private consumption and investment decelerated."
- Labor market: "The unemployment rate rose only little and temporarily."
- Inflation performance: Achievement of "single-digit inflation over the last several years" acknowledged, but inflation "remains relatively high."
Policy assessment
- Crisis response: Authorities' "policy response to the crisis has sought to balance different risks."
- Executive Directors' view: Welcomed single-digit inflation achievement while noting inflationary pressures persist.
Thematic tags (as provided)
- Subject: Credit, Economic sectors, Fiscal policy, Fiscal stance, Inflation, Money, Prices, Public debt, Public sector
- Keywords: appreciation pressure, CR, Credit, debt indicator, Fiscal stance, Global, Inflation, intervention level, ISCR, market participation, presidential election, Public sector, staff appraisal, Uruguay
International Monetary Fund. Uruguay: 2009 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Uruguay, February 23, 2010.