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Millennium Development Goals
Uruguay
Since the 1940's, Uruguay has been known as the "Switzerland of South America" due to its peaceful, conservative society and its bountiful, livestock-based economy. Uruguay is home to South America's first social democracy, cradle-to-grave welfare system; and a largely urban, homogeneous, and relatively well-educated population. This small country has also been distinguished by its relatively even income distribution, with a Gini Index of 44.6, one of the lowest in the region. Today, and despite a prolonged economic downturn, its social indicators remain outstanding by Latin American standards, and some are comparable to those of developed countries. In terms of Human Development Index, the country has been ranked 46th, and it counts with a GDP per capita of $10,000 (adjusted by purchasing power parity).
According to data published by the United Nations Economic Commission for Latin America and the Caribbean, Uruguay had the lowest poverty level in Latin America in the late 1990s. However, the protracted 1999-2001 recession and the 2002 debt crisis left more than 30 percent of its people in poverty. Indications are that initial measures to combat the crisis have taken hold. A successful restructuring of public debt has provided financial relief, and the severe poverty impact of the crisis has been partially cushioned by a well established social safety net. As a new government takes office, Uruguay's major challenges are the consolidation of recovery and long-term affordability of essential social services, which will depend, in large measure, upon the country's success in increasing economic growth.
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