LatinNews Regional Monitor: Brazil & Southern Cone - 13 December 2018

* Following a recent visit to Uruguay by a delegation from the International Monetary Fund (IMF), the IMF notes that Uurugay's “economy remains resilient, reflecting its strong institutions, prudent policies, and large buffers”. According to an IMF statement, after a strong 2017, growth has moderated with GDP up 2.4% in the first half of the year, after expanding by 2.7% in 2017. Highlighting that “while consumption has continued to support domestic demand, private investment has remained sluggish”, the IMF further expects growth to moderate to 2.1% in 2018 and 1.9% in 2019. It also warns that “without additional measures” the government's overall fiscal deficit target of 2.5% of GDP will be difficult to reach. The IMF projects an overall fiscal deficit of 3.7% of GDP in 2018.

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