Uruguay's economy seen expanding in 2023 despite expected slowdown -IMF

Uruguay's economy will likely expand 2% this year, the International Monetary Fund (IMF) forecast in a statement released on Wednesday, adding the South American country's economic growth rate is nonetheless seen decelerating in 2023.

Uruguay's inflation rate, meanwhile, is expected to decline to 7% this year, and fall within the central bank's target range in 2024, according to the IMF forecast.