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World Bank outstands Uruguay as a success story in economic and social recovery

Friday, March 22nd 2013 - 21:16 UTC
Full article 11 comments

Under the heading of: “From crisis to opportunity: supporting an effective economic and social recovery with innovation and flexibility”, the World Bank outstands Uruguay as a success story, from the downfall of 2001/02, mainly consequence of the Argentine melting to the sustained recovery since 2004/05. Read full article

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  • mastershakejb

    Well its good to see that the World Bank is making an effort to try to show what a nation can do if it opens up and plays by the rules. Argentina constantly hurls accusations at the World Bank that it does the exact opposite, but here we can see that's not true. Its also good to see that someone's trying to help Uruguay prepare itself for the next Argentine default/collapse.

    Mar 22nd, 2013 - 11:32 pm - Link - Report abuse 0
  • briton

    Uruguay
    Can now grow bigger and more successful,
    This will in turn benefit the people,
    Keep up the good work..
    .

    Mar 22nd, 2013 - 11:58 pm - Link - Report abuse 0
  • Jardinera

    Do you guys have a proofreader? What exactly does “World Bank outstands Uruguay as a success story in economic and social recovery” mean? “Outstands” is not even a word. The english in Mercopress is generally ordinary but lately it is downright terrible.

    Mar 23rd, 2013 - 12:48 am - Link - Report abuse 0
  • Ayayay

    I think they're the only country in Lat Am that has eliminated extreme poverty. Good job, Pepe.

    Mar 23rd, 2013 - 06:09 am - Link - Report abuse 0
  • Frank

    That looks like a Leader Applicator out of Craigieburn in the piccy .... http://www.leaderproducts.com.au/products/standard-applicator
    Good to see trade between Uruguay and Oz is ticking along OK....

    Mar 23rd, 2013 - 09:41 am - Link - Report abuse 0
  • rylang23

    From the BBC: “Uruguay has traditionally been more affluent than other countries in South America, and is known for its advanced education and social security systems and liberal social laws.
    It was the first nation in Latin America to establish a welfare state, maintained through relatively high taxes on industry, and developed a democratic tradition...”

    Oh, those Socialists. Always mucking up the Capitalist model by actually taking care of it's citizens. And this report is from the World Bank? Who would have thought?

    Comments, please, from all of you arch-conservative, anti-safety net, “let them eat cake” capitalists who frequent this blog.

    Mar 23rd, 2013 - 12:28 pm - Link - Report abuse 0
  • mastershakejb

    rylang23
    4 things: firstly, Uruguay's not exactly booming, it's getting a lot of help from the World Bank, IDB, and other similar bodies, to be an example to Argentina, as well as to help offset the damage that Argentina does. Also, Uruguay actually gets a small boost from Argies taking their money/investment out of Arg, because they're scared of the Arg situation. They're doing ok.......but inflation is FAR outpacing their growth. This is the classic cost of socialism.

    Secondly, Uruguay's already expensive, compared to wages. It's a VERY expensive place compared to wages, even compared to some higher wage countries. Another cost of socialism. Add in the cost of the constantly high inflation.....and you've got a bit of a problem.

    Thirdly, Crime is skyrocketing in Uruguay due to the cost of living to wage ratio, and the inflation. Another price of socialism.

    Lastly, and this is a VERY important factor: Uruguay has a very low population density. This enables socialism to somewhat work. Every country's situation is different, and Uruguay's system would be a disaster in any country with high population density. Due to its low population density, it reaps the benefits of having large amount of arable land, minerals, and water, compared to the population, hence giving greater resource wealth to spread. Its climate is also fairly mild, another boost.

    Not saying Uruguay's not a good country, its actually one of my favorite countries I've traveled in the world, and I've traveled a LOT! But I'm saying its kinda just trudging along, and lucky because of several factors, ......but if they got SERIOUS about capitalism, it could be RICH.

    Mar 23rd, 2013 - 04:21 pm - Link - Report abuse 0
  • briton

    Well,
    They are doing better than CFK;S little paradise are they not..

    Mar 23rd, 2013 - 07:46 pm - Link - Report abuse 0
  • ynsere

    mastershakejb @ 7
    Good post: this is the picture from inside Uruguay too. I'd add, on the plus side, that we're somewhat less dependent on Argentine tourism, but still have a long way to go before we don't need them.

    Mar 23rd, 2013 - 07:50 pm - Link - Report abuse 0
  • Anglotino

    @5 Frank

    I actually work in Craigieburn just down the road from Leader. Your post spun me out mate.

    Mar 23rd, 2013 - 10:14 pm - Link - Report abuse 0
  • Frank

    @10 thort it might :) ... Casa de Frank was almost smacked by a willywaw tother day....
    I wonder if Redpoll uses Leader products... I do...

    Mar 24th, 2013 - 07:42 am - Link - Report abuse 0

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