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Uruguay: Request for Stand-By Arrangement—Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uruguay

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  • International Monetary Fund

Abstract

This paper examines Uruguay’s Request for a Stand-By Arrangement. Although the external current account shifted to a moderate deficit, mainly reflecting the recovery in imports, export performance has been robust, and gross international reserves are now about three-fourths their pre-crisis level. The authorities’ program appropriately focuses on fiscal consolidation keeping inflation low through prudent monetary policy, promoting sound credit flows in a strengthened financial system, and other growth-oriented reforms. Key to maintaining macrostability will be achieving sufficiently large primary surpluses over the medium term to keep the public debt on a firm downward path.

Suggested Citation

  • International Monetary Fund, 2005. "Uruguay: Request for Stand-By Arrangement—Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uruguay," IMF Staff Country Reports 2005/235, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2005/235
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=18411
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    Cited by:

    1. Eduardo Wiesner, 2008. "The Political Economy of Macroeconomic Policy Reform in Latin America," Books, Edward Elgar Publishing, number 12913.
    2. Breisinger, Clemens & Zhu, Tingju & Al Riffai, Perrihan & Nelson, Gerald & Robertson, Richard & Funes, Jose & Verner, Dorte, 2011. "Global and local economic impacts of climate change in Syria and options for adaptation:," IFPRI discussion papers 1091, International Food Policy Research Institute (IFPRI).

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