Inflation and competitiveness are the two main macroeconomic challenges faced by Uruguay and does not anticipate an easy 'soft landing', at 3% growth rates in coming years, according to Deloitte during a conference on Prospects for 2014 and economic challenges for the next government.
Mexico's government owned oil company Pemex is getting closer to an understanding with YPF after playing a crucial role in brokering a deal between Argentina and Spain regarding the April 2012 seizure from Repsol of a majority stake in YPF. Pemex apparently is interested in having a share at the Vaca Muerta oil and gas shale deposits in Patagonian Neuquén.
Uruguay's soy beans coming crop will have increased 100.000 hectares, reaching between 1.3 and 1.35 million hectares, a new record according to the latest report from the National Seeds Institute, Inase. This compares with the 1.2 to 1.25 million hectares of the last crop.
Argentina's cabinet chief on Monday hit back at the United States reacting to comments from the White House on the Argentine central bank reserves saying he was worried about the US and UK debt levels, the US debt reaches over 100% of GDP.
High costs, poor catches and labor conflicts are threatening the competitiveness of Uruguay's fishing sector which has seen exports drop considerably plus fears of a possible closure of Nigeria which in the last 18 months has become the main market.
The Argentine Peso at the official exchange rate could reach a depreciation of almost 50% by the end of the year at the current rate of erosion, which is also expected to have a downward impact on the parallel market or 'blue dollar, according to local experts.
Chile leads the world in copper production but the country must do more to diversify its export-driven economy, according to experts. Precisely to diversify several government and industry bodies have spent years promoting Chile’s major non-mining related export items, which consist largely of produce, wood products and aquaculture.
Uruguay estimates that the number of arriving tourists to the country by the end of the year will reach 2.830.000, which is 40.000 less than in 2012, but still encouraging given the regional conditions, according to Tourism minister Liliam Kechichian.
Argentina thanked Commonwealth member Guyana for its strong support in the Malvinas Islands question and underlined the excellent bilateral relations in all fields, during the official visit of Foreign minister Carolyn Rodrigues-Birkett to Buenos Aires.