Uruguay approves IMF test, but inflation and the neighbors could bring surprises

Saturday, March 1st 2014 - 05:12 UTC

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The International Monetary Fund lowered its forecast for economic growth in Uruguay this year to 3% from its previous estimate of 3.3%, the IMF's deputy managing director said on Friday in Montevideo. Naoyuki Shinohara told reporters that the revision is due to lower growth expected in Uruguay's neighbors Argentina and Brazil and lower prices for commodities and Uruguayan exports. Read full article

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ChrisR
“we think the economic situation in Uruguay is solid.”

Well it will be when “NO Money Pepe” fucks off.
Mar 01st, 2014 - 02:45 pm - Link - Report abuse 0
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hans.ochsner@gmail.com
I would be surprised to see 3% growth! Where from? What has this country to offer to the world, if not agricultural commodities? Nothing! Everything produced in Uruguay is addressing a highly protected domestic market. Quality is poor! Since many years no progress in education, no increased productivity, the public sector is extremely oversized an utterly inefficient, prices are far too high, administered salaries rising year by year far more than productivity and inflation.
As soon as the capital inflow from abroad dries up, the ailing system will collapse. And we are about to be there!
Who would want to invest in Uruguay in the future? Only a blind man or a fool!
Mar 05th, 2014 - 11:00 am - Link - Report abuse 0
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