Uruguay
Uruguay set to receive IMF money to avert crisis
URUGUAY - Uruguay was yesterday set to receive $1.5bn (£950m) from the International Monetary Fund and impose limited restrictions on bank withdrawals in an effort to avert a collapse of its once-vaunted financial system.
Uruguay calls bank shutdown amid economic crisis
URUGUAY - Uruguay ordered its banks closed Tuesday in an attempt to stem the outward flow of capital in the midst of a growing financial crisis.
New governor chosen for Uruguay's central bank
URUGUAY - Ruling coalition Senator Alejandro Atchugarry has assumed the post of economy minister and economist Julio De Brun has been chosen to head the central bank. The former economy minister and central bank president resigned citing lack of…
Uruguay may name economist as central bank chief
URUGUAY - Julio De Brun, an economist who heads the state-run National Development Corporation, is likely to be named president of the country's central bank, a government official said on Tuesday.
Uruguay's economy minister resigns
URUGUAY - Uruguay's Economy Minister Alberto Bension has resigned after losing the support of parts of the ruling coalition government. The board of the country's central bank - which is headed by President of Uruguay Jorge Battle's cousin - is also…
IMF increases stand-by credit to Uruguay by $1.5bn
URUGUAY - The IMF today increased its current Stand-By Credit to Uruguay by about $1.5bn to about $2.28bn. Uruguay may draw up to $508m immediately. A further $650 million will become available under the augmented Stand-By Arrangement during the…
Uruguay cb to create bank protection committee
URUGUAY - Uruguay's central bank will create a special committee to oversee the provision of liquidity for the country's banks, according to central bank chairman Cesar Rodriguez. "We don't want a single bank to fold [and] we want to protect depositors'…
Uruguay floats the peso
URUGUAY- The currency band system for the peso was brought to an abrupt end amid fears of contagion from the crisis in Argentina and market woes in Brazil. The central bank said there would be only limited intervention to prop up the currency.
IMF to support Uruguay and Brazil
US - The International Monetary Fund has moved to provide financial help to Uruguay and Brazil, both affected by the crisis in Argentina.
Uruguay to see 2% growth in 2001
Uruguay's economy minister said Tuesday he expects the small South American economy to shake two years of recession and economic stagnation and grow by 2% in 2001.