The policy notes have two objectives:(i) to present the incoming government team with a menu ofpolicy options in areas where the World Bank has local andinternational experience; and (ii) to provide a frameworkfor the dialogue between the new governments and the WorldBank on the new Country Partnership Strategy (CPS). As such,the discussion of these notes with the authorities was alsoan opportunity to undertake preliminary consultations on theBank's support to Uruguay for 2010-2015. The themes ofthe notes were selected by the outgoing authorities based onongoing and completed World Bank work, and they prioritizeareas where Bank cooperation would add the most value.Uruguay's economy is small, but it has many strengthsand high potential for growth and social development. Thecountry has a long democratic tradition, a political systemcharacterized by clear rules of the game and governability,and solid institutions at all levels. Uruguay is one of themost equitable countries in Latin America and enjoys asocial peace notable in the region. Good macroeconomicmanagement following the 2002 crisis has reduced countryvulnerabilities and strengthened confidence in itsinstitutions. These characteristics are very valuable assetsfor promoting foreign and domestic investment, essential tosustain the high growth achieved in recent years. Anotherasset is the high coverage of the education system, althougheducation quality has recently become a challenge.
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