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Uruguay - Current economic position and prospects (English)

Uruguay has good natural resources, with the basic potential for further substantial economic growth. Her income per head is already almost two and one half times that of Brazil and 30 percent larger than Colombia's, with a similarly high level of exports per head. It will therefore not be prudent for Uruguay to add significantly to her present level of debt service until the policies which are hampering investment from her own resources are remedied. Uruguay is scheduled to repay present public external debt at a rapid rate; present long-term debt will be reduced $30 million, and medium-term debt 45 million in the five-year period 1956-1960. Repayment of the loan for the Baygorria hydroelectric plant will not begin until 1961. Total service on public external debt (including the proposed loan) will then be about $11.4 million annually, or around 6 percent of the probable export level; even assuming that improved economic policies, and the transition towards improved pastoral methods, will be slow of realization, this level of service should not strain Uruguay's payment capacity.

Details

  • Document Date

    1956/09/30

  • Document Type

    Pre-2003 Economic or Sector Report

  • Report Number

    WH51

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Uruguay,

  • Region

    Latin America & Caribbean,

  • Disclosure Date

    2010/06/12

  • Disclosure Status

    Disclosed

  • Doc Name

    Uruguay - Current economic position and prospects

  • Keywords

    Exchange Rates;total debt service;balance of payment;export earnings;fiscal deficit;government bond;national income;public external debt;hides and skins;external debt service;cattle population;trade deficit;foreign exchange;Economic Policy;commercial rates;exchange rate system;public finance;capital good;money supply;standard of living;government current expenditure;severe political crisis;lines of credit;external public debt;increases in output;flow of capital;cost of living;capital of public;amortization of debt;multiple exchange rate;market for bond;wheat;wool price;debt amortization;banking system;crop agriculture;export rate;domestic price;export price;exchange reserve;raw material;export volume;trade balance;long-term debt;credit expansion;Pasture Management;money income;external trade;crop area;floating debt;productive investment;export industry;financial affair;remedial action;dollar debt;private capital;long-term borrowing;export value;increased export;fiscal expenditure;domestic inflation;commercial market;wool production;basic rate;external price;livestock management;loan contract;increased imports;canned meat;exchange holding;cattle number;treasury bill;trade surplus;consumer goods;arable area;land use;domestic consumption;principal source;comparative advantage;beef export;price change;monetary authority;switch transaction;pasture land;agricultural machinery;land cost;government support;pastoral economy;pastoral area;national defense;support price;domestic meat;meat extract;production base;modern equipment;fiscal situation;export market;market rate;export packer;bulk purchasing;productive purposes;world trade;pasture improvement;active democracy;annual output;livestock population;sterling bond;wool trade;original maturity;overseas borrowing;foreign obligation;private incentives;free enterprise;International Trade;fiscal operation;deflationary effect;real wage;financial practice;private saving;Social Welfare;consumption expenditure;Bank Credit;government entity;Public Services;service charges;outstanding bond;building material;mortgage bond;Oil Refining;domestic sale;import license;bond issue;quota restrictions;account deficit;absorption capacity;wage increase;wage policy;voting power;political environment;hydroelectric plant;pastoral agriculture;pastoral land;traditional methods;domestic fuel;financial rate;foreign capital;transport facility;Natural Resources;refugee fund;exchange certificates;financial market;import payments;export product;free market;financial difficulties;average price;external force;exchange earnings;government fiscal;domestic cost;Elementary Education;living memory;frozen meat;hydro site;national territory;private enterprise;principal export;investment level;sheep population;private company;farm area;budget expenditure;government guarantee;meat product;pastoral use;government deposit;linseed oil;cattle fattening;

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Citation

Uruguay - Current economic position and prospects (English). Western hemisphere (South America) series ; no. WH 51 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/502271468173072714/Uruguay-Current-economic-position-and-prospects