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Uruguay: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Uruguay
Author:
International Monetary Fund. Western Hemisphere Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2018: Issue 023
Language:
English
Publication Date:
31 Jan 2018
DOI:
https://doi.org/10.5089/9781484338322.002
ISBN:
9781484338322
ISSN:
1934-7685
Pages:
73
Keywords:
ISCR; CR; Uruguay; exchange rate; financial asset; consumer price index; policy; banking sector; government finance statistics yearbook; market diversification Uruguay present; Uruguay's insertion; liquid financial assets; Public sector; Inflation; Exchange rates; Global
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This 2017 Article IV Consultation highlights that the fiscal adjustment in Uruguay is on track. Fiscal policy has been countercyclical in 2017, with higher income tax receipts partly offset by rising pension and health care costs. The overall deficit is estimated to decline to 3.3 percent of GDP, and the government continues to be able to access international financial markets on favorable terms, including through global nominal-peso bonds. Financial flows have remained volatile, and local and nonresident investor interest in the peso has been strong overall. The current account balance has been improving and is now in surplus, estimated to approach 2 percent of GDP in 2017.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund