Uruguay’s economy is poised to grow 4% this year and in 2014, which is above the region’s average, according to the World Bank’s latest Global Economic Prospects issued this week. However Uruguay will be ranked twelfth in the growth ranking of Latinamerica this year but ahead of Brazil and Argentina with 3.4%.
The Brazilian currency and energy rate cuts will help tame inflation this year, allowing the Brazilian central bank to keep interest rates at a record low even as growth accelerates, said Treasury Secretary Arno Augustin.
Twenty one countries from South America and Africa strongly supported their commitment to keep the South Atlantic free of arms of massive destruction and expressed concern over the British military presence in the Falklands/Malvinas, which are claimed by Argentina.
The Brazilian central bank kept its benchmark interest rate at a record low for the second straight meeting, 7.25%, despite admitting inflation was a short term risk and economic recovery less intense than expected.
Four years after the onset of the global financial crisis, the worst appears to be over. However, the global economy remains fragile, as high-income countries continue to suffer from volatility and slow growth, says the World Bank’s latest Global Economic Prospects, issued on Wednesday.
In anticipation of the business opportunities the oil industry will bring to the Falkland Islands, a leading company has plans to build in the capital Stanley 26 two bedroom apartments in the form of an 80 metre long terrace on land were previously there were temporary housing and offices since removed.
Britain’s prized AAA credit rating remains under “significant pressure”, the Fitch rating agency warned this week. David Riley, the head of global sovereign ratings at the agency, said Chancellor George Osborne’s admission in last month’s autumn statement that he would miss his 2016 target date for public debt to start falling had been a “negative event” for the UK.
Chile is expecting investments in the mining industry of 100 billion dollars in the next twelve years, of which 48bn in the eight year period to 2020 and mostly in cooper according to the National Mining Society, Sonami.
Official inflation in Argentina was 1% in December ending the twelve months at 10.8%, which is less than half private agencies average estimate regularly released as the Congressional index, which was 2.1% and 25.6%, respectively.
Chile received a total of 3.5 million foreign tourists in 2012, a 13% hike over the year before and an all-time record. The 13% gain far outpaced the 6% increase that Latin America scored as a whole last year, Chile's deputy secretary for tourism, Jacqueline Plass, said.