Uruguay's economy is strong enough to navigate in a challenging global and regional environment in which the U.S. dollar is strong and inflation is starting to rise, Uruguayan Central Bank, (BCU), chairman Mario Bergara said during a conference in Montevideo where he discussed the central bank's mission in the current world environment.
For a third year in a row the United States will be the top wheat supplier for Brazil, displacing Argentina from its historic position, according to the latest release from Brazilian consultancy Trigo & Farinhas. This piece of information is significant given the world prices for grains and wheat planting prospects in South America.
Uruguay's foreign minister Rodolfo Nin Novoa called on Mercosur to overcome hollow rhetoric and advance towards the elimination of barriers which restrict access to other markets and intra-region trade.
Uruguayan former president Jose Mujica expressed in Buenos Aires his most intimate respect for Argentine president Cristina Fernandez and revealed that on occasions he came across her when she was annoyed as a bad, cornered spider.
Uruguay enjoys the lowest perception of corruption among Mercosur countries and also a privileged position at global level, according to the country's Transparency and Public Ethics Commission. The ranking was based on data from Transparency International and World Bank for the period extending from 2003 to 2014.
Uruguay exported meat, offal, meat products and by-products worth 550 million dollars in the year up to 18 April, 8% more than the same period of 2014. Beef exports totaled 454 million in the first months of the year, with the main buyers including China, member countries of the North American Free Trade Agreement (NAFTA), the European Union, Israel and MERCOSUR countries.
Private consultants forecast the Uruguayan economy will expand 2.5% in 2015, compared to 3.5% the previous year, but recommend a strong moderation in government spending to retake the path of sustained growth and contain the consequences of an adverse international scenario mostly recessive.
Brazil's deteriorating economy and the recession tendency in Argentina, Mercosur main and largest partners, are influencing inter-group trade and the Uruguayan government is pressing for more flexibility that should allow it to negotiate agreements or understandings with third parties.
Uruguay again complained about the current stalled situation of Mercosur and called for members to 'sincere' themselves regarding the compliance of the original 1991 founding charter, and hopefully we can at least reach the first stage of the chronogram: a free trade zone which effectively works and has not to bear the brunt of hurdles.
Following on the lead of Uruguay's new government, Paraguay has also demanded Mercosur returns to its roots and original objective with free circulation of goods and no obstructions of any kind or impediments such as tariff barriers. The five countries group has been paralyzed and negotiations for an encompassing cooperation and trade agreement with the European Union remain stalled.