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International Monetary Fund. European Dept.

This statement provides information that has become available since the staff report was issued to the Executive Board on May 14, 2021. The thrust of the staff appraisal remains unchanged.

International Monetary Fund. Middle East and Central Asia Dept.

1. Uzbekistan entered the COVID-19 crisis with relatively strong macro-economic fundamentals. The economy was growing at a rate of 5–6 percent in the preceding years, reflecting sound macro-economic policies and the implementation of an ambitious reform program that was launched in 2017. The buffers built in recent years, together with large international support, allowed the authorities to respond quickly and effectively to the pandemic.

International Monetary Fund. Western Hemisphere Dept.

The Chilean economy has been hit by the pandemic while recovering from the social unrest in late 2019, requiring substantial adjustment of economic policies and the appropriate use of existing policy buffers. Following a sharp decline in mid-2020, economic activity started recovering in 2020H2 in the wake of ample policy stimulus. Inflation remains near the policy target, with inflation expectations anchored, and the current account balance has improved amid a sharp drop in imports and relatively resilient exports. Fiscal and monetary policies remain guided by the structural fiscal balance rule and the inflation-targeting framework, respectively. Beyond the pandemic-related risks, there is uncertainty stemming from a series of elections and the outcome of a New Constitution process—scheduled to finish in mid-2022—which are expected to shape the public discourse and influence the policy agenda.

International Monetary Fund. Statistics Dept.
At the request of the Central Bank of Uruguay (BCU), and with the support of the International Monetary Fund’s (IMF’s) Western Hemisphere Department (WHD), a monetary and financial statistics (MFS) technical assistance (TA) mission from the IMF’s Statistics Department (STA) visited Montevideo during February 3-14, 2020. The main objectives of the mission were to: (i) review available source data for other financial corporations (OFC); in particular, insurance corporations (IC), pension funds (PF), and credit administration companies (CAC); and (ii) compile standardized monetary statistics for OFC (report form SRF 4SR) in line with the 2016 Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG). The officials met during the mission are listed in Appendix I.
International Monetary Fund. Statistics Dept.
At the request of the Central Bank of Uruguay (BCU), and with the support of the International Monetary Fund’s (IMF’s) Western Hemisphere Department (WHD), a monetary and financial statistics (MFS) technical assistance (TA) mission from the IMF’s Statistics Department (STA) visited Montevideo during February 3-14, 2020. The main objectives of the mission were to: (i) review available source data for other financial corporations (OFC); in particular, insurance corporations (IC), pension funds (PF), and credit administration companies (CAC); and (ii) compile standardized monetary statistics for OFC (report form SRF 4SR) in line with the 2016 Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG). The officials met during the mission are listed in Appendix I.