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.

Wednesday, May 28th 2014 - 08:40 UTC

Five killed as small plane goes down in the River Plate coast; four survived

The rescue operation had to be done with helicopters in baskets because of the shallow muddy waters

A small plane crash landed on Tuesday into the Río de la Plata river with nine passengers on board. Four of them were successfully rescued and transferred to hospitals in Buenos Aires and Uruguay, and at least five people were reported dead.

Monday, May 26th 2014 - 21:55 UTC

Uruguay and Denmark top the list of ITUC Global Rights Index

 “A country’s level of development proved to be a poor indicator of whether it respected basic labor rights”, said Sharan Burrowy

A global leader-board in the race to protect workers’ rights was released at the ITUC World Congress in Berlin. The ITUC Global Rights Index ranks 139 countries against 97 internationally recognized indicators to assess where workers’ rights are best protected, in law and in practice.

Monday, May 26th 2014 - 07:17 UTC

UN praises Mujica's initiative to provide home for Syrian orphanded children

President Mujica's offer “is a drop in the ocean, but each effort by each country is very important and welcome,” Alfaro said.

The United Nations' refugee commission expressed gratitude that Uruguay is preparing to provide a new home for 100 children orphaned by Syria's civil war. Senior regional UNHCR official Michelle Alfaro said there are more than 2 million Syrian refugees in all, and Turkey, Lebanon and Jordan can't handle them all, so the agency hopes to relocate 30,000 this year.

Friday, May 23rd 2014 - 10:11 UTC

Suarez resting at home expects to begin exercises next week

The striker at home with his family replying all the support messages

Uruguay and Liverpool striker Luis Suarez is resting at home following a Thursday early morning arthroscopy, and should be back with recuperation exercises as early as next week, according to the latest sanitary report from the Uruguayan Football Association medical team.


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