Uruguay

Uruguay
Friday, August 5th 2016 - 12:18 UTC

Moody's lowers Uruguay's banking system outlook to negative: inflation remains main challenge

The Central bank anticipated that during the Q2 of the year the economy performance is expected to remain unchanged at almost zero growth as in Q1

Moody's has lowered its outlook on Uruguay's (Baa2 negative) banking system to negative from stable on the expectation that asset risks will rise moderately as challenging economic conditions weigh on consumers and businesses alike, and profitability will decline.

Thursday, August 4th 2016 - 21:52 UTC

Venezuela defies Mercosur members and announces it will “fully exercise the presidency”

“We are presidents of Mercosur and will fully exercise that right” said Venezuelan president Nicolas Maduro in a mandatory national television message

Venezuela has defiantly confirmed that is will fully exercise the “self-proclaimed” presidency of Mercosur, despite the opposition from Argentina, Brazil and Paraguay, who consider the chair vacant and are meeting in Montevideo to find an alternative for the six month mandate.

Wednesday, August 3rd 2016 - 06:10 UTC

Argentina, Brazil and Paraguay consider Mercosur chair 'vacant' and call for urgent meeting

Serra sent a letter underlining that the chair of the group remains “vacant” and accused Uruguay of causing “uncertainty” inside the group

Mercosur's disarray and fault lines were again exposed when Brazil, Argentina and Paraguay insisted that Venezuela's self proclamation as president of the group was invalid, and also expressed disappointment with Uruguay for having ended its mandate last Saturday causing “great uncertainty”.

Tuesday, August 2nd 2016 - 06:52 UTC

Mercosur in a state of disarray; Venezuela's presidency disavowed by Argentina, Brazil and Paraguay

“Venezuela is not going to preside over Mercosur, it simply does not have the conditions. Venezuela can't even take care of Venezuela”, said Jose Serra

Argentina, Brazil and Paraguay have announced they do not support Venezuela as the pro tempore presidency of Mercosur, further deepening controversy in the group which could even hinder ongoing trade negotiations with the European Union and closer links with the Pacific Alliance.

Monday, August 1st 2016 - 13:09 UTC

Venezuela announces it now holds the chair of Mercosur; strong objections from Paraguay (and Brazil)

The president Nicolas Maduro administration made the announcement despite the objections from both Paraguay and Brazil

Venezuela announced to fellow Mercosur members that for the rest of the year it was the new chair of the group, following on the expiration of Uruguay's six month mandate on Saturday, 30 July. The news was released by Spain's official news agency EFE, which alleges to have had access to the letter sent by the Venezuelan foreign ministry to the other four members.

Saturday, July 30th 2016 - 05:39 UTC

Mercosur limbo: Uruguay's presidency is over, who will hold the rotating chair ?

Last Wednesday Uruguayan foreign minister Rodolfo Nin Novoa cancelled a meeting of the Common Market Council scheduled for this Saturday

Uruguay made public on Friday a letter sent to Mercosur fellow full members stating the finalization, this Saturday 30 July, of its six-month presidency of the group, which means the rotating chair “should be transferred to Venezuela”. The letter was accompanied by a 32 page report of its six-month as chair of the group, particularly intense because of the trade negotiations with the European Union.

Friday, July 29th 2016 - 13:25 UTC

Uruguay will not fund Turkey ticket for vanished ex Guantanamo inmate who surfaced in Venezuela

Dhiab is one of six former Guantanamo prisoners who were resettled in Uruguay after being released by U.S. authorities in 2014, invited by ex President Jose Mujica

The Uruguayan government announced on Thursday it will not fund the return trip or to Turkey or any third country, of former Guantanamo prisoner, Jihad Ahmad Dhiab who went missing for over a month and this week turned up at the Uruguayan consulate in Caracas, Venezuela.

Thursday, July 28th 2016 - 11:23 UTC

Uruguay will transfer Mercosur chair to Venezuela, despite objections from Brazil and Paraguay

Tabare Vazquez had instructed foreign minister Rodolfo Nin Novoa to comply with the alphabetical order Mercosur presidency transfer as originally planned.

Despite objections from Brazil and Paraguay, Uruguay next Saturday 30 July will transfer to Venezuela the rotating chair of Mercosur for the second half of the year, as indicated in the “group's rules and regulations”.

Monday, July 25th 2016 - 11:20 UTC

Paraguay and Brazil reiterate “Venezuela is a non full member of Mercosur”

“Paraguay is still awaiting a reply from the presentation made for the Mercosur meeting with respect of Venezuela and the Ushuaia Protocol”, said Eladio Loizaga.

Paraguay announced officially that it will not be attending the Common Market Council of Mercosur in Montevideo next 30 July, if the agenda includes the transfer of the group's presidency to Venezuela.

Wednesday, July 20th 2016 - 06:35 UTC

Rousseff's great mistake was to allow Venezuela into Mercosur, says Brazilian minister

Serra described the policies of ex president Lula and suspended Rousseff as “populist”, distanced from the real international interests of Brazil.

Brazil committed a great mistake on supporting Venezuela to the Mercosur trade agreement back in 2012, and the country must be impeded from taking over the pro-tempore presidency of the group until it complies with all the requisites to be a full member, said Brazil's foreign minister Jose Serra.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement