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Download or read book Uruguay written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2024-07-11 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2023, Uruguay confronted the impact of a once-in-a-century drought, causing significant direct losses to the primary sector. The economic situation in Argentina created further headwinds for Uruguay, although with no signs of financial spillovers. The economy remained resilient, owing to the authorities’ sound macroeconomic policies, the country’s political stability, and strong institutions. The current administration, in office since 2020, has implemented a significant upgrade of the fiscal and monetary policy frameworks and has advanced decisive structural reforms. Consolidating these gains should be the most important priority.

Download or read book Uruguay written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2023-05-23 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uruguay showed strong resilience during the Covid-19 pandemic, owing to its high institutional quality, strong governance, and the authorities’ policy responses. Scarring effects in real activity and the labor market were mitigated somewhat by the authorities’ well-targeted responses. The authorities’ strong track record of implementing sound macroeconomic policies in a challenging environment has improved the country’s resilience to shocks. Since September 2022, the country is undergoing the most severe drought in forty years.

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