Hugo Swire MP, FCO Minister for Latin America, will be visiting Uruguay on Wednesday 12 March where he is scheduled to hold several political and trade meetings. The minister will be returning from Santiago de Chile where he will attend the inauguration ceremony of Chilean president Michelle Bachelet.
Inflation in Uruguay during February reached 1.66% which is equivalent to 9.82% in the last twelve months, the third highest in South America behind Venezuela and Argentina.
Lawmaker Jaime Trobo came out strongly is support of close links between the Falkland Islands and Uruguay in a column which he published in Mercopress underlining the ”interesting lesson of discovering a reality mostly unknown for Uruguayans despite the (Islands) geographic, cultural and historic proximity to Uruguay”.
The International Monetary Fund lowered its forecast for economic growth in Uruguay this year to 3% from its previous estimate of 3.3%, the IMF's deputy managing director said on Friday in Montevideo. Naoyuki Shinohara told reporters that the revision is due to lower growth expected in Uruguay's neighbors Argentina and Brazil and lower prices for commodities and Uruguayan exports.
Australia's Petrel Energy has confirmed the conventional oil reservoir potential of the San Gregorio and Cerrezuelo sandstones in Uruguay following detailed analysis of the Cardozo Chico core-hole samples. Petrel said that laboratory testing undertaken by Weatherford in Houston returned excellent permeability and porosity measurements.
Foreign minister Elías Jaua said that Caracas will not accept international mediation in the current situation faced by Venezuela but nevertheless thanked Uruguay's president Jose Mujica for his efforts and knowledge about what's going on in his country.
Uruguay's GDP this year is expected to expand by 3%, below the original estimate of 4%, according to Economy minister Mario Bergara currently in the United States on a tour to promote investments in the country and who was interviewed by Bloomberg.
A majority of Uruguayans, 55%, believe their country must support Argentina's sovereignty claims over the Falklands/Malvinas Islands but an overwhelming 80% also want closer trade links with the Islands and reject the ban on Falklands flagged vessels to operate from Montevideo or other Uruguayan ports. In both cases neutral opinions range 11% and 12%.
Coach Luis Filipe Scolari says he wants Brazil to banish the ghosts of 1950, when his country last hosted the World Cup and lost the final in a defeat against neighboring Uruguay that has haunted them ever since.
In early March Mercosur will have readied its proposal to liberate trade to be presented to the European Union, the basis for a wide-ranging cooperation and trade agreement between the two blocks, announced Rubens Barbosa, head of the Trade Council from the Sao Paulo State Industries Federation, FIESP.