Uruguay: Third Review Under the Stand-By Arrangement and Request for Modification and Waiver of Nonobservance of Performance Criteria: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uruguay
IMF Staff Country Reports, June 5, 2006
Source details
- Canonical URL
- Uruguay: Third Review Under the Stand-By Arrangement and Request for Modification and Waiver of Nonobservance of Performance Criteria: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uruguay
Other formats
Bibliographic details
- Authors: Arrangement, Request
- Published: June 5, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451839340.002
Key Findings
- Strong economic policies and a supportive external environment have contributed to:
- rapid growth
- low inflation
- strengthened external position
- an improved debt structure
- Uruguay performed well under the Stand-By Arrangement.
- Executive Directors commended the fiscal and monetary polices and urged to maintain exchange rate flexibility.
- Executive Directors emphasized that restructuring of public banks would contain contingent fiscal liabilities.
- Executive Directors appreciated efforts to strengthen tax administration.
- Executive Directors agreed that continued strong macroeconomic polices and progress with structural reforms will raise Uruguay’s growth prospects.
Policy Recommendations and Board Guidance
- Maintain exchange rate flexibility.
- Continue strong macroeconomic policies.
- Advance structural reforms to raise growth prospects.
- Restructure public banks in a way that contains contingent fiscal liabilities.
- Strengthen tax administration.
Subject Tags and Keywords (as provided)
- Subject: Banking, Credit, Economic sectors, External debt, Monetary base, Money, Public debt, Public sector
- Keywords: central bank of Uruguay, CR, Credit, Global, growth prospect, interest expenditure, ISCR, market borrowing, market financing program, Monetary base, program's inflation objective, Public sector, reform, staff appraisal
International Monetary Fund. "Uruguay: Third Review Under the Stand-By Arrangement and Request for Modification and Waiver of Nonobservance of Performance Criteria: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uruguay", IMF Staff Country Reports 2006, 197 (2006), accessed 9/23/2026, https://doi.org/10.5089/9781451839340.002