RIO DE JANEIRO, BRAZIL - The Ministry of Economy and Finance (MEF) Director of Economic Policy Marcela Bensión stated that a 4% growth floor in 2021 "is not far-fetched" after the third quarter GDP data was released.
On Tuesday, the monetary authority released a statement with the analysis and grounds for establishing the Countercyclical Capital Cushion requirement for financial institutions at 0% from January 1, 2023. The document provided assessments on the performance of the Uruguayan economy.
The BCU report stated that "in 2021, a reversal of the cycle is observed, because although GDP fell in 2020 (5.9 . . .