Uruguay

Uruguay
Tuesday, August 12th 2014 - 06:36 UTC

Uruguay wants Unasur to reach a consensus position of Gaza Strip conflict

Mujica described the situation as 'genocide' as was called 'ignorant' and 'imbecile' by the leading media in Montevideo

Uruguay will ask fellow members at the Unasur summit to be held in Montevideo later in the month to discuss the Gaza Strip situation, said Foreign minister Luis Almagro who next week will be meeting a delegation from the Palestine Authority. Almagro and president Jose Mujica have been questioned for using the words 'genocide' and 'massacre' to describe the Israeli offensive in Gaza.

Thursday, August 7th 2014 - 08:02 UTC

Uruguay inflation hard to break: in July it remained stubbornly above 9%

Food and beverage are one of the items which has increased most in the last seven months

Inflation in Uruguay remains hard to break having reached 6.17% in the first seven months of the year, the highest since 2007 (6.38%) and over 9% in the last twelve months well ahead of the government's target of 3% to 7%, according to the latest figures from the stats office, INE.

Wednesday, August 6th 2014 - 08:18 UTC

Israel disturbed with Mujica's use of 'genocide' to describe the situation in Gaza

“I believe the Uruguayan government is not correctly informed about events or has a different point of view on the issue”, said ambassador Nina Ben-Ami

Israel is disappointed and concerned with Uruguayan president Jose Mujica statement that described the Israeli offensive in Gaza as’genocide’, pointed out Jerusalem's new ambassador to Montevideo, Nina Ben-Ami. “These are not words to be used by a friend; we're friendly countries going through a difficult moment”.

Tuesday, August 5th 2014 - 06:21 UTC

IDB finances photovoltaic solar energy project for private sector in Uruguay

With a total installed capacity of 64.8MW, the plant will be part of the La Jacinta Solar Energy Project located in northwest Uruguay

The Inter-American Development Bank (IDB) has approved a 40.9 million dollars loan from its ordinary capital and 25 million from the Canada Climate Fund, which is administered by the Bank, to finance the private sector in Uruguay in the construction, operation and maintenance of a photovoltaic solar energy plant and its related facilities.

Tuesday, August 5th 2014 - 06:11 UTC

Uruguay's main fish processing company under administrative protection

Fripur employs 1.100 people, normally is responsible for 30% of Uruguay's annual exports and currently has liabilities in the range of 70 million dollars.

Uruguay's largest fishing and processing company FRIPUR, has requested administrative protection, or a voluntary concordat with creditors following financial problems with banks and other providers. Liabilities are over 70 million dollars of which 50 million with two banks, according to sources close to the request. The company employs 1.100 people.

Monday, August 4th 2014 - 07:41 UTC

Trying to gauge the impact of Argentina's situation in Mercosur partners

Hotels and other tourist attractions in Punta del Este are bracing for a slow summer season after Argentina’s refusal to pay holdout bondholders.

Argentina’s debt problems threatens to worsen trade tensions in Mercosur, adding to the economic woes of Brazil in a tense election year and causing headaches in Uruguay as the Argentine economy looks likely to plunge deeper into recession.

Monday, July 28th 2014 - 07:04 UTC

Uruguay, Paraguay and Bolivia private sectors unite to combat Mercosur protectionist policies

Paraguay's Eduardo Felippo says Urupabol will help boost growth and sound development

The private sectors from Paraguay, Uruguay and Bolivia agreed to form a business lobby, Urupabol, with the purpose of actively combating protectionist policies and other obstacles implemented inside Mercosur, mainly by senior members Argentina and Brazil.

Saturday, July 26th 2014 - 07:05 UTC

Mercosur to consider forming an 'economic forum' with ALBA and Petrocaribe

President Maduro, and leader of ALBA and Petrocaribe will be hosting the summit in Caracas

Uruguay's president Jose Mujica will be attending the next Mercosur presidential summit scheduled for Tuesday, 29 July in Caracas, when the creation of an economic forum Mercosur/ALBA/PetroCaribe will for consideration as part of the agenda.

Saturday, July 26th 2014 - 06:49 UTC

IMF warns about 'default' costs for Argentina; calls for debt restructuring mechanisms

“If Argentina goes into default and doesn't pay the holdouts, for some time it will be unable to access markets” said Olivier Blanchard

The IMF's chief economist warned that a default by Argentina in its battle with holders of its defaulted debt may hurt its economy and the global financial system. Argentina continues to face the fallout of its 2001 debt default, which plunged the country into an economic crisis it is still battling to overcome.

Saturday, July 26th 2014 - 06:31 UTC

Majority of Uruguayan support sheltering children from the Syrian conflict

The initiative from President Mujica has an overall backing from 66% according to the latest public opinion poll

Uruguay's president Jose Mujica proposal to shelter Syrian children refugees from the ongoing Middle East conflict has the support of 66% of the population and is rejected by 23%, according to a public opinion poll released this week by a local television channel.

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