Full article The Uruguay Central bank has announced the intention to lower the inflation target upper bound from 7 to 6 percent by September 2022. As one of the most dollarized countries in the world, Uruguay also renewed the emphasis on reducing dollarization and promoting local peso currency markets.
By S. Pelin Berkmen, Dmitry Gershenson, Luis Herrera Prada, and Jose Torres - Despite the ongoing crisis, Uruguay is taking important steps to address preexisting macroeconomic conditions and lay the foundation for a more resilient, competitive, and stable economy.
Deft crisis management and long-standing institutional strengths (such as its public health system) allowed Uruguay to keep the number of infections and deaths relatively low until late 2020, thereby mitigating the social and economic costs.