Uruguay
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 1988 , pp 581-606
- Publication Date: December 1988
- DOI: https://doi.org/10.18356/c31c1686-en
- Language: English
The Uruguayan economy slumped during 1988 after two years of brisk activity. The economy showed very little growth and inflation revived, while the fiscal adjustment was kept at a level at which interest payments made up nearly the whole of the déficit. The external sector was affected by opposing forces; on the one hand, a significant rise in the international price of or demand for the country's principal agricultural products brought exports to their highest historical level in current values; on the other, the unsettled regional situation caused trade in manufactured articles to decline and made it difficult to manage the exchange rate policy, although it did not deter a lively inflow of capital through the sale of public securities and the deposit of funds in foreign currency.
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