Uruguay is less than four days away from Sunday 26 October general election with opinion polls unable to forecast a clear winner, and a strong possibility that the left wing coalition could lose its legislative majority enjoyed in the last ten years and even the Executive.
Uruguay's general elections next Sunday are not only a neck-to-neck dispute between the two main presidential candidates, (unpredictable only six months ago), but are also revealing that the ruling coalition has lost its dominant allure over new voters, according to pollsters.
The strong economy and the good image of the incumbent presidential candidate Tabare Vazquez are not sufficient for Uruguay's ruling coalition Broad Front to ensure a third consecutive mandate next Sunday 26 October, according to the country's main pollsters, who underlined that the election result at this stage is too close and 'unpredictable'.
The Inter-American Development Bank (IDB) has approved a loan of up to 42.2 million dollars to help the private sector in Uruguay finance the development, construction, operation and maintenance of a 48.6 MW wind farm and its associated facilities.
Uruguay president Jose Mujica believes that the next parliament to emerge from the 26 October general election will have a difficult conformation, complicating the government's performance and that is the reason why he accepted to run for a Senate seat.
A run off in November to elect Uruguay's president seems most certain because none of the two leading candidates will manage a majority in the first round on 26 October, according to the latest public opinion poll.
Under the heading of Emerging markets prospects and strategy the US bank group JPMorgan-Chase states that no matter who wins in Uruguay's 26 October presidential election, we do not expect significant changes in the framework of current policy.
The International Monetary Fund kept Uruguay's growth estimate for this year at 2.8% but lowered the forecast for 2015 to 2.8% from 3%, according to the latest World Economic Outlook. Last year the Uruguayan economy expanded 4% and the government's target for this year is 3%.
Uruguay's inflation indicator dropped to 8.36% in September from 8.75% in August, according to the latest report from the country's stats office INE. During September consumer prices increased a full 1%, and 8,04% in the first nine months of the year. However despite the high percentage it is below the same period a year ago: 8.41%.
With less than four weeks to 26 October presidential election in Uruguay, the leading candidates are in a neck to neck race, which will demand a run off at the end of November with the result is too close to call, although two of the latest opinion polls believe that the ruling coalition could still scratch through.