|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Uruguay

Uruguay’s Economy Strong Amid Global Challenges, Central Bank Chief Says

MONTEVIDEO – Uruguay’s economy is “strong enough to navigate in a challenging global and regional environment” in which the U.S. dollar is strong and inflation is starting to rise, Uruguayan Central Bank, or BCU, chairman Mario Bergara said.

The BCU’s current reserves “provide many guarantees and reassurance in a context in which Uruguay’s country risk remains at very healthy levels,” the central bank chief said.

“The external landscape keeps changing and requires attention, but we think we have a strong platform to navigate the volatility and changing international environment reasonably well,” the BCU chairman said.

Bergara spoke during an appearance Tuesday at the Sheraton Hotel Montevideo at which he discussed the central bank’s mission in the current global economic environment.

The “challenging” global and regional context includes a recovering U.S. economy with a stronger dollar, and a “lethargic” European Union “rife with financial and political strains,” the monetary official said.

There is also a “slowdown” in China, while Uruguay’s neighbors – Argentina and Brazil – are experiencing an “economic cooling,” Bergara said.

“In this context, the Uruguayan economy has continued growing at lower but still good rates,” the central bank chief said. “At the end of 2014, growth was at 3.5 percent and for this year we have a reasonable expectation of more growth.”

Some 90 percent of opinion leaders view the BCU “not just as a good regulator and supervisor,” but also as an essential participant “in the construction of a stable and solvent financial system,” Bergara said.

A central bank’s reputation and credibility are essential because its actions are perceived in a different way if the institution is credible, transparent and sound, the BCU chief said.

“The BCU’s credibility today reassures us when we set monetary policy and the time comes to take financial regulatory measures,” Bergara said.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved