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Uruguay: Fifth Review Under the Stand—By Arrangement and Requests for Modification of the Arrangement and Waiver of Nonobservance and Applicability of Performance Criteria—Staff Report; Staff Supplement; 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 2004: Issue 327
Language:
English
Publication Date:
20 Oct 2004
DOI:
https://doi.org/10.5089/9781451839265.002
ISBN:
9781451839265
ISSN:
1934-7685
Pages:
78
Keywords:
ISCR; CR; SDR; asset management firm; asset disposal strategy; inflation target range; central bank; Banco de Crédito; liquidated bank; Uruguay's performance; Bank liquidation; Currencies; Commercial banks; Global; Europe
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This paper examines Uruguay’s Fifth Review Under the Stand-By Arrangement and Requests for Modification of the Arrangement and Waiver of Nonobservance and Applicability of Performance Criteria. The macroeconomic framework is broadly on track, but progress with structural reform remains uneven. Fiscal performance has been better than programmed, reflecting buoyant revenues. The monetary and balance-of-payments targets of the program have been met. Although program risks have diminished further since the last review, important vulnerabilities remain, leaving no room for policy slippages.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund