Uruguay is resolutely on its way to reclaim the investment grade status it lost in 2002 according to Franco Uccelli an analyst with JP Morgan Chase. Uccelli says that growth continues to outperform expectations; infrastructure projects are set to take centre stage; fiscal consolidation is firmly underway; the public debt burden is poised to decline and no international bond issuance is planned for 2010. Fundamental support for the currency remains intact and a return to Investment Grade has become a key priority for the government.
Bulgaria has been trapped by a “Dilma fever” given the almost certain victory of the Brazilian ruling party’s presidential candidate Dilma Rousseff whose family came from Bulgaria.
The Uruguayan government announced that it authorized the repurchase of 500 million US dollars of sovereign debt with the purpose of optimizing its composition and the maturing timetable.
Standard & Poor's Ratings Services raised its long-term foreign and local currency sovereign credit ratings on Uruguay to BB from BB- with a stable outlook thanks to the country's track record of sustained economic growth.
The North Falkland oil and gas exploration company Rockhopper Exploration plc (AIM: RKH) announced Monday that the Ocean Guardian drilling rig is on location at the Sea Lion prospect where oil was discovered in a drilling last April/May. Operations now are concentrated on the flow test of the Sea Lion main and lower fans.
Analysts covering Brazil’s economy raised their forecast for GDP growth this year to 7.34%, according to a central bank survey. Economists held their 2011 economic growth forecast unchanged at 4.5%, according to the median estimate in a survey of 100 analysts taken September 3 and published Monday.
Brazil expanded the offshore area where drilling for crude or prospecting for minerals requires government authorization as it seeks to increase control over natural resources.
Europe's regulation chief has told London based companies to 'remain calm' over plans to give Brussels new powers to control their business.
Former British Prime Minister Tony Blair and his Spanish counterpart Jose Maria Aznar shared a tongue in cheek anecdote about Gibraltar during a family get together in Spain. The story is contained in Mr Blair's bestselling memoirs 'A Journey' that has just hit the bookshops in UK and is reported in the Gibraltar Chronicle.
Life in the pink palace of Argentina's ruling couple is no bed of roses, says a new biography of President Cristina Kirchner. It portrays her as the puppet of an authoritarian husband who once punched her in the face for defying his will.