Uruguay admits inflation is “decisively much higher” than expected

Tuesday, November 20th 2012 - 01:40 UTC

Full article 7 comments

Inflation is a priority and is “decisively much higher than what authorities and public opinion would like” admitted Mario Bergara, Uruguay’s Central bank president during the opening on Monday of a two-day annual economic conference. Read full article

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Ayayay
Refreshing directness.
Nov 20th, 2012 - 05:33 am - Link - Report abuse 0
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Trunce
They should buy an Argie calculator and problem would be resolved.
Nov 20th, 2012 - 01:17 pm - Link - Report abuse 0
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ChrisR
At least we get the truth here, albeit worse than was expected.

The problem of course is one of the governments own making:
1) failing to decimate (reduce by 10%) the overhead employed by government, year on year as is desperately necessary;
2) using the people from 1), after retraining into a useful productive person, in the new businesses coming to Uruguay;
3) utterly failing to keep in check the government monopolies such as ANCAP (no reduction in motor fuel prices in the last 22 months even though the spot price continues to fall), UTE, a price rise just before the government trumpeting the ‘freeze on prices’, OSE, leave water from broken mains for over a year and still not fixed – damages the roads, etc. ONLY ANTEL come out of this with anything like credibility – making financial allowance for forward spending whilst reducing broadband cost by a third and increasing speeds by third – well done to them;
4) failing to understand the commercial reality of operating a flag carrier for 3 million people, only a few of who would ever use it AND then cocking the auction of the second-hand planes up so badly they are the laughing stock of serious businessmen.

No, the government have to decide within the next few years, and the sooner the better, just what it is they are supposed to be doing. It WILL be crunch time very soon for smaller registered businesses who carry the world of regulation and taxes on their back.

Frankly, I would NEVER start a small business in Uruguay, you could never make it pay enough to justify the time spent and financial risk taken.
Nov 20th, 2012 - 05:11 pm - Link - Report abuse 0
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ynsere
Chris
I'm afraid ANTEL is also wanting, despite their heavy advertising. For instance, there are landline telephones in the Solymar area that have not been working since the storm in September. In cases where there is an associated broadband connection, this has also not been working.
Nov 23rd, 2012 - 09:48 pm - Link - Report abuse 0
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ChrisR
4 ynsere

That is nothing short of disgraceful at least I have never had to wait beyond a couple of days.

But I bet they still get a bill for the standing charges. :o)
Nov 24th, 2012 - 12:15 am - Link - Report abuse 0
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British_Kirchnerist
Seems inflation is a regional, not just Argie, problem then. And going down by all accounts, now Brazil is picking up...
Nov 24th, 2012 - 12:30 am - Link - Report abuse 0
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ChrisR
@6 BSK

FFS!

Can't you even make a pretence of understanding what is going on in Uruguay?

If not, STFU.
Nov 24th, 2012 - 11:00 am - Link - Report abuse 0
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