MercoPress. South Atlantic News Agency
IMF top marks for Uruguay’s economy but beware of inflation and wage indexation
An International Monetary Fund (IMF) mission headed by Ulric Erickson von Allmen visited Uruguay from October 22 to November 2 to conduct the country’s annual Article IV consultation. At the conclusion of the visit, Mr. Erickson von Allmen division chief in the IMF’s Western Hemisphere Department issued the following statement in Montevideo: Read full article
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Disclaimer & comment ruleslol way to go Uruguay on making Argentina look like a joke, as usual
Nov 03rd, 2012 - 10:37 am - Link - Report abuse 0Continue with your division tactics... No matter how many differencies we have with Argentina, it doesn't make us like UK/USA any better :)))
Nov 03rd, 2012 - 10:41 am - Link - Report abuse 0By the way, you missed a spot on my left rear cheek...
Absolutely correct about inflation and wages.
Nov 03rd, 2012 - 10:47 am - Link - Report abuse 0BUT, until the Government stop the government owned monopolies putting up their prices, seemingly on a whim with no justification, wages for the productive workers (NOT government employees) will need to rise to keep up with the costs.
UTE, that badly run, mismanaged behemoth of the state that has a monopoly on electricity in Uruguay has just put up their prices for the second time in under 12 months.
And for what? Voltages down to 192V at anytime of the year and blackouts in electrical storms due to them copying the American system of overhead twisted cable supply which ensures poor service.
ANCAP, the monopoly on liquid and gas fuels has never reduced prices in the 21 months I have been here, despite the fall in international prices. Perhaps having a majority of the supply from Venezuela has something to do with it. The ‘directors’ put out a notice ‘that they are considering reductions in price’. Sacking themselves and half the workforce would be a good start. I NEVER use ANCAP now due to the abysmal service provided by all the ANCAP stations I have used. Petrobras should be allowed to take the whole lot over and that would certainly improve things.
Pepe keeps on that we need production workers and agriculture to modernise (thankfully, at last) but offers no ideas as to how that can be achieved.
Retraining half the existing government employees to be production workers would be a good start and providing MBAs in the University another.
I know those in charge have the best intentions at heart but they need to DO SOMETHING not just talk about it.
Heartfelt rant for the working population over!
“Uruguay has experienced a decade of spectacular growth since its 2002 crisis. This performance is the result of prudent macroeconomic policies” says the IMF. Then why did Argentina with unorthodox policies grow just as well in the same period?
Nov 03rd, 2012 - 11:16 am - Link - Report abuse 0@4
Nov 03rd, 2012 - 01:36 pm - Link - Report abuse 0Uruguay HAS NO GOT ANY OF THE FOLLOWING:
1) raging inflation 11% vs 30%
2) the UYU pesos is stable to firm against the USD vs toilet paper money
3) UYU bonds are sought after by international buyers vs NF chance
4) UYU are respected by the USA, UK and EU vs WTF are the AGs?
5) very low unemployment vs who knows, take your pick with INDEC
6) UYU are full of very nice Uruguayans, apart from the AG drug dealers and murderers who come to MVD because the economy is shit in AG vs AG's
7) UYU has great beaches sheltered from the Atlantic until you get to Ignacio vs crap, wind swept Atlantic beaches. That's why the AG come to UYU and to get away from TMBOA.
WTF would anybody go to Argentina while it is controlled by a bunch of cnuts and that's only the so called 'men'. WHY HAVEN'T YOU GONE TO AG?
Uruguay showing Argentina that honesty is the best policy but when has argentina ever done anything for the best??
Nov 03rd, 2012 - 01:38 pm - Link - Report abuse 0“Then why did Argentina with unorthodox policies grow just as well in the same period?”
Nov 03rd, 2012 - 01:50 pm - Link - Report abuse 0...because the Argentine Government makes up their figures to suit them.
Go Uruguay’ go Uruguay’ go go
Nov 03rd, 2012 - 08:05 pm - Link - Report abuse 0Go Uruguay’,
How CFK must be pulling her plastic to pieces with rage.
Chuckle.
.
Cheers all, now the right one, same treatment ;)
Nov 03rd, 2012 - 09:07 pm - Link - Report abuse 0Excellent news for Uruguay, a model for a successful SA economy.
Nov 05th, 2012 - 12:14 am - Link - Report abuse 0Commenting for this story is now closed.
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