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Uruguay: Second Review Under the Stand-By Arrangement, Requests for Modification and Extension of the Arrangement, and Waiver of Nonobservance and Applicability of Performance Criteria, and Exchange System — Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uruguay
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2003: Issue 116
Language:
English
Publication Date:
25 Apr 2003
DOI:
https://doi.org/10.5089/9781451839227.002
ISBN:
9781451839227
ISSN:
1934-7685
Pages:
72
Keywords:
ISCR; CR; debt; financing; government debt exchange; Uruguay; debt exchange; Uruguay's financing needs; growth prospect; stand-by credit arrangement; market financing; Public sector; International reserves; Commercial banks; Europe; Caribbean
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This paper examines Uruguay’s Second Review Under the Stand-By Arrangement, Requests for Modification and Extension of the Arrangement, and Waiver of Nonobservance and Applicability of Performance Criteria and Exchange System. Progress on the structural front has been mixed. The macroeconomic framework is based on a return to economic growth. Notwithstanding the risks to the program, the IMF staff recommends completion of the second review and approval of the authorities’ requests for waivers, extension of the arrangement, and rephasing of purchases.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund