Economy

• Wednesday, February 23rd 2022 - 09:24 UTC

  No more VAT for Uruguayan hotels to boost domestic travel

  

  The Government of Uruguay has decided to scrap the Value Added Tax (VAT) from hotel bills paid by local nationals between March 1 and April 17 in a move to boost domestic tourism. The measure, which was already in force for foreign travelers, seeks to help the leisure industry, heavily affected by the COVID-19 pandemic.

• Wednesday, February 23rd 2022 - 08:01 UTC

  Foreign Secretary Liz Truss announced the initial tranche of sanctions on Russia

  

  Following the Prime Minister-s announcement to the House of Commons, Foreign Secretary Liz Truss on Tuesday 22 February designated the initial tranche of sanctions on Russia. The sanctions package targets oligarchs and banks associated with the Kremlin.

• Tuesday, February 22nd 2022 - 10:50 UTC

  Uruguay has what world investors need, President Lacalle tells Dubai fair

  

  Uruguay's President Luis Lacalle Pou told attendees at the Expo Dubai 2022 international fair that the private sector made a country thrive and urged investors to pour into the South American country to become “owners, partners or shareholders of the food generation.”

• Tuesday, February 22nd 2022 - 10:04 UTC

  Sanctions impact on Belarus potash fertilizer and global food production

  

  Some of the first consequences of the Ukraine conflict? Belarus, a close ally of Russia's Vladimir Putin, has announced that the Belarus Potash Corporation, BPC, will no longer abide by some contracts following sanctions imposed by the United States and other countries.

• Tuesday, February 22nd 2022 - 09:58 UTC

  Brazil and South Korea share it's a good moment to advance with the Mercosur agreement

  

  Brazil's leading think tank, Getulio Vargas Foundation, believes that in the current global trade situation with bottlenecks, shortages of inputs and transport challenges there is a great opportunity to reach an integral trade agreement between Mercosur and South Korea.

• Monday, February 21st 2022 - 09:21 UTC

  IMF's Kristalina Georgieva: “We must fight inflation without impairing the recovery”

  

  International Monetary Fund Managing Director Kristalina Georgieva made the following statement at the virtual meeting of the G20 Finance Ministers and Central Bank Governors:

• Saturday, February 19th 2022 - 10:06 UTC

  IMF says draft of deal with Argentina almost ready

  

  A high-ranking International Monetary Fund (IMF) official Friday announced a full deal with Argentina “is very close,” as the Government of President Alberto Fernández hopes it will be next week, so that it can be put up for Congressional approval at the start of the new Legislature, March 1.

• Saturday, February 19th 2022 - 09:22 UTC

  WTO Fisheries to end subsidies committee: Agreement to finalize negotiations as soon as possible

  

  The World Trade Organization committee to eliminate subsidies for illegal, unreported and unregulated fishing and banning certain forms of fisheries subsidies to impede overcapacity and overfishing, have agreed to continue working and conclude negotiations as soon as possible,

• Saturday, February 19th 2022 - 09:19 UTC

  Ahead of another major blunder, an Argentine haircut for the IMF

  

  By Willem H. Buitter – By approving an unprecedentedly large loan to Argentina in mid-2018, despite the country's failure to meet basic borrowing conditions, the International Monetary Fund committed a major blunder. Rather than compounding the mistake with another similar program, it should accept reality – and responsibility.

• Saturday, February 19th 2022 - 09:16 UTC

  Strong jump in global 2021 trade of goods and services ,to pre-Covid-19 level, UNCTAD report

  

  The United Nations Conference on Trade and Development UNCTAD has published the Global Trade Update report, which shows that in 2021, world trade in goods remained strong and trade in services finally returned to its pre-COVID-19 levels.