Uruguay: Selected Issues

January 10, 2014

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Format: Chicago

Uruguay: Selected Issues, (USA: International Monetary Fund, 2014) accessed November 21, 2024

Summary

This Selected Issues paper examines the performance of Uruguay’s exports, external balances, and relative price movements over the past decade and applies the IMF’s standard external sector assessment tools to Uruguay. The results indicate that Uruguay has made important strides in export performance, including expanding markets shares over the past decade, driven by trade competitiveness gains. The current account deficit has remained well contained and more than fully financed by foreign direct investment over the past decade, notwithstanding external shocks. At the same time, the real exchange rate has appreciated strongly in recent years. Standard IMF equilibrium real exchange rate valuation models also suggest that the Uruguayan peso is slightly stronger than its equilibrium level.

Subject: Commodity price shocks, Economic sectors, Exports, Inflation, International trade, Land prices, Mining sector, Prices

Keywords: Africa, Commodity price shocks, CR, Current account, Exports, Fiscal policy stance, Global, Inflation, Inflation expectation, Inflation impulse response, ISCR, Land prices, Mining sector, Price, Price dynamics, Uruguay

Publication Details

Pages:

55
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/007
Stock No:

1URYEA2014002
ISBN:

9781484342879
ISSN:

1934-7685

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