Uruguay: Fourth Review Under the Stand-By Arrangement and Requests for Modification of the Arrangement and Waiver of Nonobservance and Applicability of Performance Criteria, and Extension of Repurchase Expectations in the Credit Tranches—Staff Report;

Fourth Review Under the Stand-By Arrangement and Requests for Modification of the Arrangement and Waiver of Nonobservance and Applicability of Performance Criteria, and Extension of Repurchase Expectations in the Credit Tranches—Staff Report; Supplementary Information; Press Release on the Executive Board Discussion; Statement by the Executive Director for Uruguay; and Statement by the Authorities

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 172

Publication date: June 2004

ISBN: 9781451839234

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , liquidity condition , NPL ratio , BROU , SDR , restructuring plan , liquidity concern , end-February structural performance criterion , Credit , Currencies , Public sector , Global

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Peru

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Republic of Congo : 2001 Article IV

Summary

This paper examines Uruguay’s Fourth Review Under the Stand-By Arrangement and Requests for Modification of the Arrangement. The macroeconomic framework is broadly on track, but progress with structural reform has lagged. With regard to the quantitative performance criteria, there was a small deviation from the target on the combined public sector primary balance. The restructuring of the public banks and the disposal of assets of liquidated banks are taking longer than expected. The authorities have reaffirmed their commitment to the primary surplus targets for 2004 and beyond.