Organization of American States (OAS) chief José Miguel Insulza, said that the violence in some Latin American countries with high homicide rates can be compared to an “epidemic.”
Sales of existing homes in the US plunged 27.2% in July compared with June to their lowest level in more than 10 years, figures suggest. Home sales completed in the month stood at an annualised rate of 3.83 million, according to the National Association of Realtors (NAR).
Uruguay whose credit rating was cut to junk in 2002, expects to return to investment grade within two years, central bank President Mario Bergara said. “We are confident that in one or two years we will have investment grade again,” Bergara said at an investors’ conference in New York Monday.
Russia has enough grain to cover its domestic needs after harvesting this year 38% less than the previous crop, a senior official said Monday. However markets believe Russia could be forced to import several million tons to ensure grain reserves until the following 2011 harvest
Uruguay’s wool clip is forecasted to drop 20% in 2010/11 because of a fall in the number of sheep and extreme weather conditions that will represent a loss of almost a kilo of wool per head, according to Alvaro Fossati, president of a sheep farmers association.
Brazilian government managed energy giant Petrobras said Bolivian natural gas will remain important for energy-hungry Brazil, where demand for that fuel is expected to triple over the next four years, Bolivian daily La Razon reported.
Uruguayan Vice-president Danilo Astori and a delegation of sixty businessmen are en route to China for a week long visit to strengthen bilateral relations and further promote trade and investments.
Uruguay reached this month a tax information exchange agreement with India thus totalling the twelve demanded by the Organization for Economic and Development Cooperation to have the country de-listed from the group that still have to abide and implement internationally agreed tax standards.
Earlier this year, Cristina Fernández de Kirchner, Argentina’s president, proffered some advice to European governments facing recession and market panic. Its essence was “stuff the IMF and carry on spending.” It is what she and her predecessor and husband, Néstor Kirchner, have practiced since 2003. Argentina is one of only a handful of countries that refuse all dealings with the IMF. Almost a decade after it defaulted on $90 billion of debt when its economy collapsed, it still has few financial ties with the world and very little bank credit. Yet contrary to repeated forecasts of doom from orthodox economists, the economy is roaring.
The Cuban government has awarded in usufruct over a million hectares to small farmers one of the main reforms promoted by President Raúl Castro to help the country’s economy recover from its deep recession and cut the huge imported food bill that conditions Cuban international reserves.