Political Risk Latin America Blog @PolRiskLatam

Uruguay admits to IMF concern over inflation, but rejects capital flow controls

Posted in News and Articles, Political Risk by politicalrisklatam on April 19, 2011

by Merco Press News, April 19th, 2011.

“Challenges to the Uruguayan economy continue to be considerable, particularly in the current world economic situation which is generating a high dose of uncertainty and specifically a significant increase in inflationary pressures”.

The statement on the Uruguayan chapter was done by Chile’s central bank president Jose De Gregorio, the country that holds the ‘chair’ of the committee shared by Argentina, Bolivia, Paraguay, Peru and Uruguay. Each country chapter is prepared by each of the delegations.

In the report Uruguayan authorities mention that to combat inflationary pressures last March 23, the Monetary Policy Rate was increased above market expectations from 6.5% to 7.5% and the Economy ministry has reiterated its commitment to accompany those efforts in the “fiscal field”. (continue reading… )


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