Tag: Fernando Lorenzo

• Friday, September 30th 2011 - 06:05 UTC

  Uruguay leaves basic rate unchanged at 8%; inflation remains above target

  

  Uruguay’s Central bank kept its benchmark interest rate unchanged as policymakers focus on bringing inflation back to target in anticipation of possible impacts from a global slowdown.

• Wednesday, August 3rd 2011 - 22:06 UTC

  IDB approves a financial support plan of 1.8 billion dollars for Uruguay

  

  The Inter American Development Bank, IDB, approved this week a new country ambitious strategy with Uruguay with a financial plan for the period 2010–2015 of up to 1.8 billion dollars of for sovereign-guaranteed loans.

• Tuesday, July 5th 2011 - 03:23 UTC

  June’s index shows result of Uruguay’s battle with inflation remains uncertain

  

  Uruguay consumer prices increased 0.35% in June, completing 8.61% in the last twelve months, which remains above the Central bank target of 4% to 6%, and the latest estimate of 7.8% presented last week by the Executive in its additional budget report to Congress.

• Thursday, June 9th 2011 - 08:56 UTC

  Uruguayan government divided over implementation of a new tax on farmland

  

  The Uruguayan government is trying to decide how to implement a controversial new tax on land holdings involving approximately 60 million dollars per annum and which has exposed deep differences in the ruling coalition, is rejected by farmers and feared by investors.

• Tuesday, June 7th 2011 - 21:51 UTC

  Uruguay complains about low ratings from the risk agencies

  

  Economy minister Fernando Lorenzo accused rating agencies of failing to recognize the increasing strength of Uruguay’s sustained economic growth and therefore denying its investment grade status.

• Thursday, June 2nd 2011 - 00:46 UTC

  Uruguay's fiscal deficit steady at 1.6% of GDP; lack of rains fuels power bill

  

  Uruguay’s fiscal deficit increased 0.7 percentage points of GDP in April reaching 1.6% of GDP in the accumulated twelve months, reports the Ministry of Economy and Finance. The 1.6% of GDP is the fiscal budget deficit target established by the government for the whole of 2011, which was recently increased.

• Saturday, May 28th 2011 - 00:36 UTC

  Uruguay successfully floats Samurai bonds; warnings of economy over-heating

  

  Interest for Uruguayan ten-year bonds in Yens more than doubled the issue equivalent to 490 million US dollars. The bonds are guaranteed by Japan Bank for International Cooperation with a 1.6% yield.

• Thursday, April 7th 2011 - 10:11 UTC

  Uruguay’s public debt to abandon foreign currencies for local Pesos

  

  Uruguay this year plans to swap part of its foreign-currency bonds for debt denominated in Pesos, said Economy Minister Fernando Lorenzo. Uruguay will also sell Peso securities and use the proceeds to pay off bonds denominated in other currencies, Lorenzo said without providing further details.

• Tuesday, April 5th 2011 - 10:11 UTC

  Uruguay has no plans to issue new debt: 2011 obligations comfortably covered

  

  Uruguay's economy minister said the country had no concrete plan to issue new debt because it had already covered 2011 obligations and debt servicing costs will fall in 2012. Nevertheless he complained about the “poor treatment” of Uruguay by the risk rating agencies.

• Friday, April 1st 2011 - 01:31 UTC

  Uruguay’s two main challenges: infrastructure and education

  

  Two are the main challenges faced by Uruguay to ensure sustained economic growth and to improve inequalities: infrastructure and education, and one main danger, self complacency.