A new global order is emerging as a result of the world crisis and recession in developed countries and Latin America has a crucial role to play given its very satisfactory economic performance in recent years, said Unasur Secretary General Maria Emma Mejia.
Uruguayan exporters and government officials clashed over the (depressed) value of the US dollar in the local market and its impact on overseas sales competitiveness and profits. The differences surfaced during the celebration of “Exporters Day”.
Senior cruise executives from across the globe showed considerable interest in plans to permit gambling on cruise ships docked overnight in Gibraltar.
As the Euro crisis debt crisis expands, Greek Prime Minister George Papandreou appealed to parliament to support a new cabinet appointed to push through painful economic reforms, saying a debt default would be catastrophic for the country and the European Union.
The Uruguayan economy expanded 2.3% in January-March over the previous quarter, which has elevated forecasts for the twelve months of 2011 to a floor of 6.5%. However the Uruguayan government is concerned that consumption again expanded at a higher rate than GDP.
The construction of Uruguay’s second pulp mill, which includes a power plant and port facilities have been authorized following the approval of the Montes del Plata environment policies.
Venezuelan billionaire Gustavo Cisneros is setting up joint ventures with Chinese banks to carry out investment in Latin American commodities industries.
The US current account deficit rose 6.3% to $119.3bn in the first three months of the year, the Commerce Department has said. Strong exports of cars, computers and machinery were offset by imports, particularly of more expensive oil.
Banco do Brasil, Latin America’s biggest bank by assets, is considering buying lenders in Colombia, Peru and Chile to attract corporate clients and increase business with Brazilian companies in the region. Last month the bank announced the reopening of its branch in Montevideo, Uruguay.
Brazilian Finance Minister Guido Mantega said Wednesday that his country's default risk had become lower than that of the United States.