IMF's Georgieva urges Uruguay to take more risks to spur growth
International Monetary Fund Managing Director Kristalina Georgieva praised Uruguay's macroeconomic and institutional stability during a visit to Montevideo, while urging authorities to take greater risks to convert that stability into stronger economic growth. Her remarks came during talks with President Yamandú Orsi's economic team.
International Monetary Fund Managing Director Kristalina Georgieva praised Uruguay's macroeconomic and institutional strength during a visit to Montevideo, telling local officials that the country's stability sets it apart in the region.
Georgieva urged Uruguayan authorities to take greater risks to translate that stability into faster economic growth, arguing that fiscal and monetary discipline alone are not enough to raise living standards. She said in remarks reported locally that "stability alone does not buy a house."
The visit included talks with President Yamandú Orsi's economic team, as Uruguay seeks to balance its reputation for institutional steadiness with pressure to accelerate growth and investment. The IMF chief's comments are likely to feed into ongoing debate in Montevideo over how much fiscal room the government has to expand spending.
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