Friday, February 21st 2014 - 08:05 UTC

Uruguay lowers growth estimate for 2014 to 3% of GDP; inflation still a challenge

Minister Bergara is on a bandwagon tour of US to attract investments to Uruguay

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.

Friday, February 21st 2014 - 00:16 UTC

Uruguayans want closer links and trade with the Falklands/Malvinas shows survey

 The poll showed Uruguay supports Argentina's sovereignty claims but rejects the ban on Falklands' vessels operating from Montevideo

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%.

Thursday, February 20th 2014 - 10:27 UTC

Scolari wants to banish the ghosts of the 1950 when Brazil was beaten by Uruguay

Ghiggia the Uruguayan striker that with his goal silenced 200.000 Brazilian fans ready to celebrate.

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.

Wednesday, February 19th 2014 - 22:38 UTC

Mercosur to meet 7 March to finalize the proposal to be presented to EU

Barbosa said that Argentina's participation in the preparations is 'evolving positively'

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.

Tuesday, February 18th 2014 - 21:33 UTC

Mujica exposed 'to contempt of justice' for refusing to pay Judiciary branch budget increase

The Uruguayan president argues the Treasury does not have the funds

The Uruguayan Judiciary branch warned President Jose Mujica that he is in contempt of justice for ignoring a budget bill that contemplates salary increases for judges and other members of independent government bodies.

Monday, February 17th 2014 - 10:00 UTC

Uruguay will appeal to a cut in state-run utilities rates, if necessary, to keep inflation under control

Mujica blamed inflation on the success of the Uruguayan development model

Uruguayan President Jose Mujica admitted that annual inflation would likely remain between 7 and 9% for the rest of his administration, above the government's target maximum, but he will appeal to a cut in state-run utilities rates if necessary to keep the index under control.

Monday, February 17th 2014 - 09:42 UTC

Uruguay and Venezuela will further increase energy related cooperation

Maduro will be meeting with Mujica when he visits Uruguay in the second week of March

Uruguay will renew the contract for the purchase of Venezuela oil and accept the stake increase of that country in a local bio-fuels corporation during the scheduled visit of President Nicolas Maduro to Montevideo next month; it was announced by the Uruguayan Foreign affairs ministry.

Monday, February 17th 2014 - 09:09 UTC

Uruguay's budget surplus reached 2.3% of GDP in 2013

Government owned companies contributed 350 million dollars to the deficit

Despite a decade of sustained growth Uruguay's fiscal deficit reached 2.3% of GDP last year, which is an improvement over 2012, when it reached 2.8%, but above the government's target of 2.1%. In money terms this means the budget red was equivalent to 1.154bn dollars, including 350 million dollar losses from government owned companies.

Friday, February 14th 2014 - 21:22 UTC

Total to drill first exploratory well in Uruguay's shelf in October 2015

 Ancap President Coya, Uruguay is definitively in the oil world map

French oil giant Total will be drilling its first well in Uruguay's continental shelf in October 2015, announced the president of the country's oil and gas government owned company ANCAP. Jose Coya also revealed that the company he leads is working on the third Uruguay Round which will implement in the last quarter of next year.

Thursday, February 13th 2014 - 23:05 UTC

Uruguay has an important role to play in promoting better relations say visiting delegates to Falkland Islands

Uruguayan lawmakers at the press conference (Photo FIG)

The cross-party delegation of Uruguayan parliamentarians currently visiting the Falkland Islands appear quite unmoved by what their leader Jaime Trobo described as the “dust storm” that their visit had created both at home in Uruguay and in neighbouring Argentina.


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