Uruguay: Recent Economic Developments

International Monetary Fund

No 2001/047, IMF Staff Country Reports from International Monetary Fund

Abstract: The paper examines the extent to which the recent evolution of the consolidated public sector balance in Uruguay reflects the business cycle. Fiscal policies have generally been cautious, even though some structural reforms, the electoral cycle, and recessions in recent years increased the deficit. Bank soundness indicators differ substantially between private and public banks in Uruguay. The private banking system appears sound. Public banks did not fare as well during the recession, and their soundness needs to be addressed.

Keywords: ISCR; CR; U.S. dollar; private sector; economic activity; exchange rate; banking system; base year; output gap; return on equity; central bank; Fiscal stance; State-owned banks; Public sector; Commercial banks; Loans; Europe; Global (search for similar items in EconPapers)
Pages: 110
Date: 2001-03-16
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