Tag: Fernando Lorenzo
Fernando LorenzoUruguay and Argentina reach agreement on tax information exchange
Uruguay and Argentina agreed to exchange tax data in a deal that gives Argentine inspectors the power to dig up information on savers with bank accounts in the neighbouring country, officials said on Tuesday.
A decade later S&P lifts Uruguay’s rating to investment grade
Uruguay’s credit rating was raised one level by Standard & Poor’s, which means the country has returned to investment grade for the first time in a decade.
Uruguay strongly advocates for “free and fluid trade” in Unasur meeting
Uruguay’s Economy minister Fernando Lorenzo called on other members of Unasur, Union of South American Nations, to ensure free trade in the region as a safeguard and guarantee for the sustained growth of country-members in time.
Uruguay expanded 6% in 2011 and fiscal deficit dropped to 0.8% of GDP
Finance Minister Fernando Lorenzo said that Uruguay’s economy in 2011 expanded an estimated 6%, the ninth year running of sustained growth, and the budget fiscal deficit was 0.8% of GDP.
Uruguay’s economy minister, second best in the region for two years running
The Economy ministers from Colombia, Uruguay and Peru have been rated as the best in Latin America according to the financial magazine America Economica, a publication from the Chilean company Nanbei which does the annual survey based on interviews with 70 Latin American economists.
Credit ratings remain reluctant to award Uruguay ‘investment grade’
Credit rating agencies believe that in spite of the successful management of its sovereign debt Uruguay still has some issues to improve before investment grade is awarded. Moody’s has promised to visit Uruguay at the beginning of next year to assess those conditions.
Uruguay’s ruling coalition admits divisions in economic and financial policies
Uruguay’s ruling coalition main grouping and which responds to President Jose Mujica expressed their full support for the Executive and Economy minister Fernando Lorenzo and his team, which has been increasingly questioned lately for its “excessive orthodoxy”.
France denies Uruguay is a “fiscal haven”; underlines strong bilateral links
“Uruguay does not figure in the list of countries with which France has financial difficulties”, said a special envoy from President Nicholas Sarkozy who visited Montevideo this week, thus ending the controversy triggered at the end of the early November G8 Cannes summit when Uruguay was described as a “fiscal haven”.
World Bank loan to help Uruguayan farmers address climate change consequences
The World Bank approved last week a loan for 49 million dollars to support Uruguayan farmers in adopting environmentally sustainable practices to improve the resilience of their production systems in response to the effects of climate variability.
In anticipation of global crisis World Bank extends 260m loan to Uruguay
The World Bank Board approved a 260 million dollars loan to support the Uruguayan government’s reform program in order to consolidate growth with social equity and provide a line of financing to address the impact of the current uncertainty in global economic affairs.
