President Cristina Fernandez (CFK) as expected made the welcoming ceremony for the Argentine frigate ARA Libertad (retained in Ghana for 78 days) into a ‘sovereignty and dignity’ political rally including the support of 20.000 militants, mostly bused in by political organizations, in which she blasted hedge funds, ‘global social predators’ and warned that through extortion and force nobody is going to obtain anything from Argentina.
Uruguayan president Jose Mujica leaves for Caracas “to support the government and people of Venezuela” on Thursday 10 January, the date in which convalescent re-re-elected president Hugo Chavez is supposed to take the oath of office.
By Dr. Jorge Stanham, MBE - The British Hospital in Montevideo has a long established relation with the Falkland Islands going back over a century.
The Uruguayan government has set its sights on becoming one of the world's leading wind power producers as part of plans to produce 90% of its electricity from renewable sources by 2015, although much of the plan is still on the drawing board.
Consumer prices in Uruguay ended the year at 7.48% after recording the lowest December percentage in forty years: a negative 0.73%. However analysts and consultants anticipate that inflation in the first quarter of 2013 will remain above an annualized 8%.
Uruguay exports increased 9% last year over 2011 reaching 8.751 billion dollars a numerical historic record according to the primary figures released by the Instituto Uruguay XXI, a government funded organization to promote foreign trade. Soybeans, beef and rice remain as Uruguay’s main export items.
Uruguay’s Central bank on Wednesday made its largest purchase of US dollars on record totalling 120 million dollars following on the bank’s monetary committee decision in the last week of 2012 to increase the basic rate to 9.25% as the country struggles to contain inflation.
President Jose Mujica anticipated that the Argentine economy can’t remain ‘closed for much more time’ (protectionist) and forecasted that 2013 will be a ‘clear year’ for Uruguay regarding economic issues.
Uruguay’s Central bank raised its benchmark interest rate on Friday for the second time this year as policy makers struggle to bring inflation into the government’s target range. The IMF and local economists have warned about the need to “tackle inflation”, particularly since the budget’s fiscal deficit has soared in just twelve months from 0.4% of GDP to over 3% of GDP.
The country “needs leaders in government, not demagogues” said Juan Carlos López Mena a leading businessman of Uruguay’s tourism and transport industry who is also investing heavily in agriculture and an incipient regional airline.