Uruguay's overall debt at the close of the second quarter was 18.2 billion US dollars, having increased 779 million US dollars over the first quarter, thus totalling the equivalent to 68% of GDP. At the end of March the debt/GDP ratio was 70%.
Uruguay reported a trade surplus of 68.3 million US dollars after having accumulated 1.2 billion US dollars deficit in the first seven months of 2008, according to the country's Central Bank.
Argentine ambassador in Uruguay denied on Friday the existence of contradicting statements between the two neighboring countries regarding the end to pickets blocking bridges linking both countries which have interrupted trade and everyday traffic.
Live cattle prices in Uruguay after reaching a historic peak in mid August have begun to drop significantly following the meat industry's decision to soften activity and a drop in demand from Russia and to a certain extent the European Union.
Uruguay's most voted and popular leader, former guerrilla and currently Senator Jose Mujica admitted he would be a presidential candidate if he counts with the support from other groups of the ruling coalition.
An initiative from the United States National Cancer Institute to establish an extensive cancer research program in Uruguay was the foremost of several expanded scientific cooperation initiatives considered by US and Uruguayan officials meeting in New York.
Uruguayan president Tabare Vazquez launched this week before the international business community the presidential candidacy of his outgoing Economy minister during the opening of a trade and investment forum sponsored among others by The Economist Intelligence Unit.
The Economist Intelligence Unit praised in Montevideo the achievements of the Uruguayan economy as really impressive but also cautioned that good times don't last for ever.
Uruguay's fiscal deficit will be double the government's targets for 2008 and 2009 increasing risks for the coming year (which happens to be an electoral year). Clearly expansive monetary and fiscal policies together with mounting pressure for higher salaries and an overheated economy will sustain strong inflationary pressures this year and in 2009.
Uruguay formally proposed its Mercosur partners to begin a round of negotiations geared to reach trade agreements with the European Union, United States, South Korea and Canada. The proposal had been advanced early August but was formalized early September in Brazil during a meeting of the Mercosur Foreign Relations Commission.