Uruguay: Seventh Review Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criterion—Staff Report and Supplement; Press Release; and Statement by the Executive Director for Uruguay
March 21, 2005
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This paper assesses Uruguay’s Seventh Review Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criterion. The favorable program results reflect prudent macroeconomic policies and important banking reforms, although progress with other structural reforms was less satisfactory. The outlook for 2005 is favorable. Growth will likely exceed 5 percent, and inflation is expected to fall to 5½–6½ percent. A strong foundation has been laid for continued fiscal consolidation. The pending reforms under the current program will need to be taken up by the new government.
Subject: Banking, Commercial banks, Currencies, Economic sectors, External debt, Financial institutions, Money, Public debt, Public sector
Keywords: banking reform, Commercial banks, CR, credit information, Currencies, debt liquidity problem, Global, government, inflation expectation, interest expenditure, ISCR, Public sector
Pages:
62
Volume:
2005
DOI:
Issue:
109
Series:
Country Report No. 2005/109
Stock No:
1URYEA2005002
ISBN:
9781451839296
ISSN:
1934-7685
