The Uruguayan government confirmed on Monday a raft of measures to attract Argentine tourists and compensate the restrictions in Argentina to purchase foreign currency (dollar-clamp) and the 15% retention fund for credit or debit cards operations outside the country.
Uruguayan president Jose Mujica has plans to meet two, probably three times before the end of the year with his peer from Venezuela, Hugo Chavez to address “a real integration” of Mercosur, not limited to trade, but at the same time admitting that Venezuela is rapidly becoming one of the main markets for Uruguayan exports.
Uruguay expects 243 calls of cruise vessels during this summer 2012/13 season (October/April) which means, if confirmed there will be a 9.3% increase over the same period in the 2011/12 season. The information published in the Uruguayan presidency web says Montevideo expects 131 calls while Punta del Este 112.
An International Monetary Fund (IMF) mission headed by Ulric Erickson von Allmen visited Uruguay from October 22 to November 2 to conduct the country’s annual Article IV consultation. At the conclusion of the visit, Mr. Erickson von Allmen division chief in the IMF’s Western Hemisphere Department issued the following statement in Montevideo:
The US dollar suffered in Uruguay during October its greatest fall since January 2009 following on the increase of the Central bank basic rate to 9% at the end of September, which turned Uruguayan bonds far more attractive for foreign investors.
Uruguay’s central bank said that consumer prices, excluding the most volatile items, have increased almost 11% in the last twelve months to September. Fresh fruit and vegetables, cigarettes and public utility rates are considered ‘volatile prices’.
The Council of Europe is promoting international co-operation in the field of personal data protection, in particular by encouraging non member states to ratify the Convention for the protection of individuals with regard to Automatic Processing of Personal Data, also known as Convention 108. Uruguay has started the process for its ratification and therefore may become the first non-Council of Europe member state to accede to the convention.
Australia’s Petrel Energy is getting involved in Uruguay after taking a stake in a private US player which also gives it a presence in Spain. The Sydney-based explorer said its 25% stake in Schuepach Energy International (SEI) gives the company a shot at unearthing “company-making” large scale oil and gas discoveries.
The Brazilian Foreign ministry revealed in a brief release that during October discussions between Mercosur and the European Union representatives both sides “confirmed their commitment to advance negotiations to achieve a wide ranging, balanced and ambitious agreement”.
Panama was the country with the greatest increase in per capita GDP in the last five years, followed by Uruguay, Peru, Dominican Republic and Chile according to a report from the digital publication Latinvex.