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Economy / Uruguay

Financial Outflows To Continue

October 2010 | Economic Analysis

BMI View: We believe that Uruguay's financial account will remain in the red over the coming quarters as the search for higher yield and government efforts to stem peso appreciation keep outflows at elevated levels. While the current account surplus will help to offset some of the damage to the country's balance of payments, we caution that measures to stem financial outflows will be required to prevent a drawdown of reserves over the medium term.

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