IMF increases stand-by credit to Uruguay by $1.5bn

URUGUAY - The International Monetary Fund (IMF) today increased its current Stand-By Credit to Uruguay by SDR 1.16 billion (about US$1.5 billion) to SDR 1.75 billion (about US$2.28 billion). Uruguay may draw up to SDR 386.1 million (about US$508 million) immediately. A further SDR 496 million (about US$650 million) will become available under the augmented Stand-By Arrangement during the remainder of 2002, subject to further review by the IMF Executive Board.

The original 24-month Stand-By Cre