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

June 5, 2006

Preview Citation

Format: Chicago

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, (USA: International Monetary Fund, 2006) accessed October 8, 2024

Summary

Strong economic policies and a supportive external environment have contributed to rapid growth, low inflation, strengthened external position, and an improved debt structure helping Uruguay perform well under the Stand-By Arrangement. Executive Directors commended the fiscal and monetary polices and urged to maintain exchange rate flexibility. They emphasized that restructuring of public banks would contain contingent fiscal liabilities. They appreciated the efforts to strengthen tax administration, and agreed that continued strong macroeconomic polices and progress with structural reforms will raise Uruguay’s growth prospects.

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

Publication Details

Pages:

66
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/197
Stock No:

1URYEA2006002
ISBN:

9781451839340
ISSN:

1934-7685

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