Remaining A Regional Outperformer

BMI View: Real GDP growth of 10.4% year-on-year in Q210 reinforces our view that Uruguay will remain a regional outperformer over the medium term. We expect strong private consumption, surging private investment and a positive export outlook to drive growth of 7.1% in 2010 and 4.7% in 2011, in turn boosting the government's efforts to regain investment grade status by 2014.

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