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.
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.
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.
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.
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.
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.
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.
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.
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.
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.