exposed to a significant degree of dollarization, Peru and Uruguay. It is shown that the traditional interest rate channel is … effective in Chile and New Zealand. For Peru and Uruguay, the exchange rate channel is instead more relevant in the transmission … pass through. Finally, it is shown that the on-going de-dollarization process of Peru and Uruguay has somewhat strengthened …

After the recession, Uruguay continued to face difficult economic conditions under the Stand-By Arrangement. Executive … Directors emphasized the need to promote sustainable growth with low inflation and high employment. They welcomed Uruguay …

Background: Uruguay has experienced a decade of strong and inclusive expansion since its 2002 crisis, thanks to … important institutional reforms, large-scale FDI projects attracted by Uruguay’s stable macroeconomic environment and business … 2012, mostly owing to weaker external demand from regional trading partners with which Uruguay is highly interconnected …

This paper presents an Ex Post Assessment of Longer-Term Program Engagement for Uruguay. Uruguay has had a series of …

to weigh on Uruguay’s current account, particularly on the services side. Economic activity is projected to decelerate …

This Selected Issues paper reviews Uruguay’s experience with inclusive growth over the last two decades, and identifies … challenges and policy options to promote greater equality going forward. Uruguay has a long history of high living standards …

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 …

Uruguay is facing a third year of negative output growth. It, however, is making progress with economic adjustment. The …

This paper discusses key findings of the Fifth and Sixth Reviews Under the Stand-By Arrangement (SBA) for Uruguay …

and prospects for bank-lending from a cyclical and structural perspectives. A model calibrated for Uruguay, a financially …