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IMF Country Report No. 21/80
URUGUAY
URUGUAY—TECHNICAL ASSISTANCE REPORT— MONETARY AND FINANCIAL STATISTICS MISSION
This Technical Assistance Report paper on Uruguay was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed in May 2020.
April 2021
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Title Page
Uruguay
Technical Assistance Report on the Monetary and Financial Statistics Mission (February 3–14, 2020)
MAY 2020
Prepared by José Carlos Moreno-Ramírez and Alicia Hierro Llanillo
The contents of this report constitute technical advice provided by the staff of the International Monetary Fund (IMF) to the authorities of the Uruguay (the “TA recipient”) in response to their request for technical assistance. This report (in whole or in part) or summaries thereof may be disclosed by the IMF to IMF Executive Directors and members of their staff, as well as to other agencies or instrumentalities of the TA recipient, and upon their request, to World Bank staff, and other technical assistance providers and donors with legitimate interest, unless the TA recipient specifically objects to such disclosure (see Operational Guidelines for the Dissemination of Technical Assistance Information). Publication or Disclosure of this report (in whole or in part) or summaries thereof to parties outside the IMF other than agencies or instrumentalities of the TA recipient, World Bank staff, other technical assistance providers and donors with legitimate interest, shall require the explicit consent of the TA recipient and the IMF’s Statistics Department.
Contents
Glossary
SUMMARY OF MISSION OUTCOMES AND PRIORITY RECOMMENDATIONS
BACKGROUND
A. Context
B. The Financial System in Uruguay
DETAILED TECHNICAL ASSESSMENT AND RECOMMENDATIONS
A. Compilation of the Other Financial Corporations Survey: Overview
B. Insurance Companies
C. Pension Funds
D. Credit Administration Companies
E. Mutual Funds and Financial Trusts
F. Balance Sheet Approach
G. Financial Soundness Indicators
H. Resources and Technical Assistance
I. OFC Compilation Systems and Integrated Monetary Database
ACTION PLAN
TABLES
1. Priority Recommendations
2. Structure of the Financial System (Summary) (September 2019)
3. Types of OFC and Frequency of Data Reported to the BCU
4. Simplified Balance Sheet of IC
5. Simplified Balance Sheet of Pension Funds
6. Simplified Balance Sheet of Credit Administration Companies
7. Mission’s Recommendations
I. Officials Met During the Mission
II. IFRS in the MFSMCG –– Key Concepts
Glossary
| CAC | Credit administration companies |
| BCU | Central Bank of Uruguay |
| FFI | Foreign financial institutions (offshore banks) |
| IC | Insurance companies |
| IFRS | International Financial Reporting Standards |
| IMD | Integrated monetary database |
| IMF | International Monetary Fund |
| MCM | Monetary and Capitals Markets Department of the IMF |
| MFS | Monetary and financial statistics |
| MFSMCG | 2016 Monetary and Financial Statistics Manual and Compilation Guide |
| ODC | Other depository corporations |
| OFC | Other financial corporations |
| PF | Pension funds |
| SRF | Standardized report forms |
| SRF | 1SR Central bank standard report form |
| SRF | 2SR Other depository corporations standard report form |
| SRF | 4SR Other financial corporations standard report form |
| STA | Statistics Department of the IMF |
| WHD | Western Hemisphere Department of the IMF |