Uruguay
Cover -- CONTENTS -- CONTEXT: RESILIENCE IN THE FACE OF MARKET TURMOIL -- RECENT DEVELOPMENTS -- OUTLOOK AND RISKS -- POLICY DISCUSSIONS -- A. Maintaining Fiscal Sustainability -- B. Lowering Inflation -- C. Maintaining Financial Sector Stability and Enhancing Intermediation -- D. Enhancing Inclusive Growth and Competitiveness -- STAFF APPRAISAL -- BOXES -- 1. Cincuentones Transaction -- 2. Exchange Rate Intervention in Uruguay -- 3. Population Aging and Pensions in Uruguay -- 4. Pilot for Central Bank Digital Currency (E-Peso) -- 5. Real Exchange Rate and Sectoral Competitiveness -- FIGURES -- 1. Real Activity -- 2. Inflation -- 3. External Accounts -- 4. Monetary Policy -- 5. Fiscal Developments -- 6. Global and Argentina Spillovers -- 7. Credit and Banking -- 8. Structural Issues -- TABLES -- 1. Selected Financial Soundness Indicators -- 2. Selected Economic Indicators -- 3. Balance of Payments and External Sector Indicators -- 4. Main Fiscal Aggregates -- 5. Public Sector Debt and Assets -- 6. Statement of Operations of the Central Government -- 7. Central Government Stock Positions -- 8. Monetary Survey -- 9. Medium-Term Macroeconomic Framework -- ANNEXES -- I. External Sector Assessment -- II. Public Sector Debt Sustainability Analysis (DSA) -- III. External Debt Sustainability Analysis -- CONTENTS -- FUND RELATIONS -- RELATIONS WITH OTHER INTERNATIONAL INSTITUTIONS -- STATISTICAL ISSUES.