An estimated 12.000 people have been forced to leave their homes in Uruguay where record rainfall has caused extensive flooding leaving several counties with no electricity or drinking water.
Uruguayan and Argentine officials are scheduled to continue talks at the end of the month in an effort to defuse the Fray Bentos, Uruguay pulp mill conflict, as a follow up to last month's talks in Madrid after a year without negotiations.
Alarm bells are ringing in Uruguay following the release of April's Consumer Prices Index, 1.22% totaling 4.58% in the first four months of 2007 and 8.11% in the last twelve months, when the overall target for this year was established in the range of 4.5% to 6.5%.
S&P has raised its outlook on Uruguay's B+ sovereign credit rating to positive from stable to reflect expectations of a sustained implementation of the economic policy agenda.
The FAO and other specialists of the Dairy Industry predict that, by year 2027, world demand for dairy products will have increased 20% while the price of milk will maintain the same and South American countries will become the key players of the world market for supply of dairy products.
The President of the Republic of Uruguay, HE Tabaré Vázquez , currently on an official visit to the UAE, has invited Dubai World to explore emerging business opportunities in the South American country.
Uruguay and United States resumed on Thursday trade and investment talks in Washington with the purpose of increasing bilateral exchanges. Uruguay is targeting an increase in its current 20.000 tons of beef quota, free of tariffs, and the opening of the US market for lamb and mutton.
Uruguay with no oil or gas reserves has the highest fuel prices in Latinamerica, 1.35 US dollars for a liter of premium gasoline, not distant from those countries with the top values such as Holland where premium at the pump costs 1.91 US dollars a liter.
Uruguay and Argentina with the facilitating efforts of the Spanish Crown seem to have found this week in Madrid a possible way out for the deadlock over the pulp mills controversy which has soured bilateral relations between the neighboring countries.
Spain's Foreign Affairs Minister Miguel Angel Moratinos cautioned Wednesday that no big news can be expected from the first direct dialogue round between Argentina and Uruguay in Madrid regarding the controversy over the construction of a pulp mill in shared waters.