Uruguay

Uruguay
Monday, June 16th 2014 - 06:26 UTC

Cristina Fernandez and Mujica, so close but ever so distant

Almagro sent a letter to Timerman inviting him to dialogue but also recalling a long list of non delivered Argentine promises

The lasted chapter of the resurgent diplomatic conflict between Argentina and Uruguay was not addressed during a brief encounter of presidents Cristina Fernandez and Jose Mujica in Bolivia where they attended the G77 plus China summit over the weekend.

Saturday, June 14th 2014 - 09:29 UTC

Argentina on the war path against Uruguay following re-ignition of pulp mill dispute

Timerman called for the immediate back-rolling of Uruguay's authorization to increase UPM pulp mill production

Argentina reacted strongly and with a letter in harsh terms to Uruguay's decision to authorize Finland's UPM-Kymmene pulp mill to increase annual production by 8%. The letter addressed by Foreign minister Hector Timerman to his peer Luis Almagro informs Argentina will take the case to international tribunals and is currently 'reassessing' bilateral relations.

Friday, June 13th 2014 - 08:37 UTC

Uruguay's main parties completed their presidential tickets for 26 October

Broad Front presidential ticket, Vazquez with Sendic

Uruguay's ruling coalition and the main opposition National party have finally worked out their presidential tickets for October's general election, following on the results, and subsequent negotiations, of the June first primary elections.

Thursday, June 12th 2014 - 07:39 UTC

Beijing hosts this year's Meat Congress; China has become Uruguay's main beef client

The event in Beijing will attract the world's main producers and exporters

China will be holding this year's World Meat Congress in Beijing, an event traditionally hosted by meat producing and exporting countries. However the significance of the world's second largest economy and its booming demand for meat have made it the right place for the 14/16 June conference.

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.

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