URUGUAY- VICTIM OF THE MERCOSUR CONTAGION.(Brief Article)

Market Latin America | October 1, 2002 | Copyright

Uruguay has a long-standing reputation as one of South America's most stable and well-run economies. Up until this year, the average Uruguayan enjoyed a standard of living higher than most other South Americans, supported by low inflation and a stable national currency (the peso).

Uruguay has been experiencing economic contraction for the past four years, but the precipitous economic decline came about in April of 2002. The decline was virtually inevitable given the fact that Uruguay is the seat of MERCOSUR and its exporters are very much dependent on sales to the ...

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