US Markets

IMF staff sees Uruguay's economy strengthening, urges close look at inflation

Credit: REUTERS/RODRIGO GARRIDO

Uruguay's economy is expected to continue strengthening in late 2021 and 2022, the International Monetary Fund staff said in a preliminary report released on Wednesday, citing a near halt in the spread of COVID-19 and signs of recovery in lagging sectors.

WASHINGTON, Oct 6 (Reuters) - Uruguay's economy is expected to continue strengthening in late 2021 and 2022, the International Monetary Fund staff said in a preliminary report released on Wednesday, citing a near halt in the spread of COVID-19 and signs of recovery in lagging sectors.

Inflation is projected to end 2021 around 7.2% and drop to around 5.8% by end-2022, the report said, noting that Uruguay's monetary policy may need a tightening bias to bring inflation within the target range as the economy recovers.

(Reporting by Andrea Shalal and Rodrigo Campos; Editing by Mark Porter)

((andrea.shalal@tr.com; +1 202-815-7432;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest US Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More