Uruguay

Uruguay
Wednesday, June 11th 2014 - 01:48 UTC

Uruguay issues 2 billion dollars of new 2050 global bond to help spread the country's debt

The country's ratio of government debt to GDP currently stands at 40% and decreasing

Uruguay issued 2 billion dollars of a new 2050 global bond on Tuesday at a spread of 165 to 170 basis points over U.S. Treasuries as part of the government's bid to put less strain on its accounts in the near- and medium-term, it was reported.

Wednesday, June 4th 2014 - 09:14 UTC

Uruguay ready to receive Guantanamo prisoners and displaced Syrian children

 Almagro said Uruguay has a long standing policy going back to the XIX century regarding refugees

Uruguayan government negotiations with Washington to receive detainees from the US jail in Guantanamo base, and with the UN to host Syrian children and their families are well advanced, revealed Foreign minister Luis Almagro.

Wednesday, June 4th 2014 - 09:03 UTC

Timid S&P ignores Moody's and leaves Uruguay' risk rating unchanged

Uruguay with a small and open economy is exposed to vulnerabilities emerging from a region which is “experimenting economic stress”

Standard & Poor's (S&P) decided on Tuesday to maintain Uruguay's sovereign debt risk rating unchanged at the lowest investment grade BBB-, because although it has solid growth prospects, predictable policies and a favorable debt profile, the country still has limited fiscal and monetary flexibility and lives in a neighborhood experimenting 'economic stress'.

Tuesday, June 3rd 2014 - 05:51 UTC

Uruguay's primaries give birth to a new young leader in the ruling coalition

Raul Sendic is 52, is young for a coalition with leaders in their seventies: Mujica, Vazquez and Astori

Yet more surprises from last Sunday's primaries in Uruguay to choose candidates for the October presidential election. Not only did the main opposition vote overwhelmingly for renewal, but now it has emerged that in the ruling coalition, which suffers from a generation of Jurassic leaders, a young challenger has emerged as the most voted and is now demanding a place in the presidential ticket.

Monday, June 2nd 2014 - 08:21 UTC

Moody's upgrades Uruguay's rating to Baa3, based on reduced 'vulnerabilities'

Uruguay's ratio of government debt to GDP of 40% is aligned with the Baa median level.

Moody's Investors Service last Friday announced it had upgraded Uruguay's government bond rating to Baa2 from Baa3, and assigned a stable outlook to the Baa2 rating. The upgrade was driven by the strengthening of Uruguay's sovereign credit profile, as reflected by the convergence of fiscal and debt metric, an overall government debt profile that is currently associated with moderate credit risks, and the country's reduced vulnerabilities to regional and commodity shocks.

Monday, June 2nd 2014 - 07:13 UTC

Vazquez, Lacalle Pou and Bordaberry: one the three will be Uruguay's next president

The big surprise was Lacalle Pou, who clearly defeated veteran hopeful Larrañaga despite opinion polls

Sunday's primaries in Uruguay cleared the way for the candidates of the four parties with legislative representation that will be disputing the presidential election next October 26, with a run-off a month later if none of them manages 50% plus one of ballots.

Saturday, May 31st 2014 - 06:08 UTC

Uruguay's FDI equivalent to 5% of GDP and mostly in alternative energies, said Eclac report

Several wind farm projects should increase Uruguay's energy capacity by 550MW

Foreign direct investment in Uruguay totaled 2.79bn dollars last year, which is slightly higher than the 2.68bn of 2012, equivalent to 5% of GDP, according to the latest report on FDI for the region from the UN Economic Commission for Latin America and the Caribbean.

Friday, May 30th 2014 - 05:19 UTC

Uruguay parties chose presidential candidates in next Sunday's primaries

Former president Vázquez; National party hopefuls Larrañaga and Lacalle Pou; Colorado party leader Pedro Bordaberry

Uruguay closed on Thursday the primaries election campaign ahead of Sunday's vote when the different parties will be choosing their candidates for the big presidential contest on the last Sunday of October. Whoever is elected in October or in the November run-off will succeed President Jose Mujica on March 2015.

Thursday, May 29th 2014 - 06:26 UTC

Argentina is the most protectionist country of the region” claims Astori

His attitude towards Argentina has been described as 'negative' by junior officials who respond to President Mujica

Uruguay's vice-president Danilo Astori said that Argentina is “the most protectionist country in the region” and again questioned the effectiveness of Mercosur arguing that Uruguay can't forget the region but can't be expected to remain idle.

Thursday, May 29th 2014 - 00:54 UTC

Uruguayan court declines competence to rule on Chinese fishing vessel 'slavery' claims

The 28 African crewmembers are from Ghana and Sierra Leone.

A Uruguayan criminal court found no merit to continue investigating into incidents allegedly occurred in a Chinese flagged fishing vessel following on claims of 'slavery', ill treatment and beatings, presented by 28 African crewmembers.

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