Uruguay: Ex Post Assessment of Longer-Term Program Engagement—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Uruguay
IMF Staff Country Reports, June 15, 2005
Source details
- Canonical URL
- Uruguay: Ex Post Assessment of Longer-Term Program Engagement—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Uruguay
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Bibliographic details
- Published: June 15, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451839302.002
Executive summary and context
- This paper presents an Ex Post Assessment of Longer-Term Program Engagement for Uruguay.
- Uruguay had a series of Stand-By Arrangements that were treated mostly as precautionary between March 1996 and early 2002.
- These arrangements were viewed as a helpful seal of approval and as a vehicle for intensive IMF monitoring.
- The authorities undertook significant reforms during this period—notably a pension reform, a reduction in public employment, and a lengthening of wage indexation lags.
- Other reforms were either not undertaken or completed with a delay.
Key findings and policy-relevant observations
- Stand-By Arrangements (March 1996–early 2002) functioned primarily as precautionary support and strengthened monitoring capacity.
- Major reforms completed:
- Pension reform.
- Reduction in public employment.
- Lengthening of wage indexation lags.
- Implementation gaps:
- Several other reforms were either not undertaken or were completed with a delay.
Subject areas and keywords (as listed)
- Subject: Banking, Commercial banks, Expenditure, Financial crises, Financial institutions, Pension spending, Public debt, State-owned banks
- Keywords: Commercial banks, CR, debt-sustainability assessment, financial support, fund, fund financial support, fund involvement, Global, IMF executive board reviews Uruguay's performance, ISCR, Pension spending, State-owned banks, sustainability analysis, Uruguay
Publication metadata and identifiers
- Publication date: June 15, 2005
- Pages: 51
- Volume: 2005
- Issue: 202
- Series: Country Report No. 2005/202
- DOI: https://doi.org/10.5089/9781451839302.002
- Stock No: 1URYEA2005003
- ISBN: 9781451839302
- ISSN: 1934-7685
International Monetary Fund. "Uruguay: Ex Post Assessment of Longer-Term Program Engagement—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Uruguay", IMF Staff Country Reports 2005, 202 (2005), June 15, 2005.