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Montevideo, July 20th 2019 - 22:33 UTC

Tag: Danilo Astori

  • Saturday, July 20th 2019 - 09:50 UTC

    Strong contraction of Uruguay's economy: GDP forecasted to grow 0.6% this year

    Minister Astori said “the government was making everything possible to recover growth levels, and at the same time, improve fiscal results”.

    Uruguay's Economy minister admitted on Friday that the country will end 2019 with a “very modest growth”, in the range of 0.6%, but was confident the economy would pick up in 2020 when the construction of a new pulp mill, with an investment of at least two billion dollars, is scheduled to start.

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  • Wednesday, June 5th 2019 - 21:00 UTC

    Uruguay: Finances don't grow; Economy Minister estimates an improvement for the second semester, as Macri did

    The government of Uruguay recognizes that it must work to resume better levels of growth. Provide greater incentives to investors and entrepreneurs was the method set to change the course.

    Uruguay is experiencing, in recent months, a marked drop in investment and the generation of employment. Uruguayan Economy Minister Danilo Astori admitted Wednesday the fall of public accounts, with an annualized fiscal deficit in April that was 4.8% of GDP, and opted to provide greater incentives to investors and entrepreneurs. The Uruguayan press accuses the government of betting on the hope that the results will begin to be felt in the second half of the year, as it was heard a while ago in Argentina under the administration of President Mauricio Macri.

  • Monday, October 8th 2018 - 12:56 UTC

    Astori surprised by Fitch ratings, confident Uruguay will bounce back

    Astori recalled that Uruguay went through a similar situation two years ago when the rating was lowered and then the government managed to reverse it.

    Uruguay's Economy Minister Danilo Astori Sunday said he was surprised at last week's decision by the Fitch agency to maintain Uruguay's investment grade as it lowered the outlook down to BBB- and pointed out that this report “contrasts openly with those of other risk rating agencies and with the market itself.”

  • Monday, June 18th 2018 - 11:14 UTC

    Uruguay chair of Mercosur, targets accord with China, exhausted of negotiations with the EU

     Nin Novoa fears negotiations with EU could temporarily “breakdown”, although he anticipated he was committed to avoid such a situation.

    Uruguay will be handed the rotating chair of Mercosur this Monday in a brief summit ceremony to take place in Paraguay. Attending will be Brazil's Michel Temer, Uruguay's Tabare Vázquez, the host Paraguay Horacio Cartes and in representation of Argentina, vice president Gabriela Michetti. President Mauricio Macri is in the midst of a cabinet reshuffle and waiting for market reaction this Monday following the naming of a new Central Bank chairman.

  • Wednesday, May 9th 2018 - 20:19 UTC

    US Dollar rises: Uruguay behind Argentina

    The exchange houses in the center of Montevideo today marked up to 31.70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday - the highest in five years. Photo: Sebastián Astorga

    After several days up in Argentina, the devaluation of the Argentine peso and the rise of the US dollar have had some impact on the other side of the River Plate, where the exchange houses of downtown Montevideo marked on Wednesday the value of the currency up to 31,70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday —the highest in five years—. For the Uruguayan government, the country follows the global trend and calls for calm, beyond the noise generated in Argentina, which is beginning a dialogue between the Finance Minister, Nicolás Dujovne, and the International Monetary Fund (IMF) in Washington.

  • Monday, May 7th 2018 - 20:24 UTC

    Uruguay: No position on the FTA with Chile after an official plenary

    Economy Minister Danilo Astori said that the government's opening policy is not supported.

    The plenary of the leftist coalition Broad Front concluded on Sunday with a motion that postergates de decision over the Free Trade Agreement (FTA) with Chile, defining to leave the decision on whether or not to support the agreement, delaying the debate to a future plenary whose date is not yet defined. The decision was voted after counting an erroneous sum of the votes in the first instance in which the motion to debate the issue in the plenary had won. However, the votes of the Communist Party of Uruguay (PCU) had been put on the wrong side.

  • Tuesday, February 27th 2018 - 06:08 UTC

    Uruguayan fraternity: nepotism, nepotism and no job to spare

    President Tabare Vazquez named his brother, a licensed nurse, as deputy of the Home Office

    It has been a long standing consensus-secret in the Uruguayan political system that when you are elected or have been nominated to a political post, you must not forget the family or friends particularly if they are in distress. This means in practical terms that the generous Uruguayan state will incorporate you to the burgeoning bureaucracy be it at national or regional level.

  • Wednesday, January 17th 2018 - 08:37 UTC

    Uruguayan farmers surprise government and take to the roads to protest fiscal policies

    Vazquez is a supine ignorant of farm affairs and his longtime Agriculture minister, Tabare Aguerre, had actually presented his resignation several months ago

    Uruguayan farmers with their tractors, harvesters, trucks, vans and on horseback took to the roads to protest the cost of fuel, power, increased taxes and an over bloated national budget and bureaucracy which they blame for making several farm activities unprofitable, and have had an overall negative impact for the different camp activities.

  • Thursday, April 6th 2017 - 06:08 UTC

    Maduro blows up last bridge with Mercosur and causes deep rift in Uruguayan ruling coalition

    Vazquez demanded that Maduro shows evidence of his accusations against Nin Novoa or publicly retracts

    Venezuelan president Nicolas Maduro seems to have blown up the last bridge to Mercosur when he launched a barrage of accusations against Uruguay's foreign minister which triggered an immediate reaction from president Tabare Vazquez, who demanded evidence of the charges or a public retraction from the embattled Maduro. But the conflict has also openly exposed the deep rift inside the Uruguayan ruling coalition regarding the Bolivarian revolution “anti imperialist” regime.

  • Wednesday, December 7th 2016 - 17:34 UTC

    Uruguay's unemployment drops to 7.1% in October

    Economy Minister Danilo Astori anticipates half-point growth for 2016 as unemployment falls in Uruguay

    Unemployment in Uruguay in October fell to 7.1% and marked the lowest monthly record of the year, according to data published on Tuesday by the National Statistics Institute (INE). In September this index was at 8.4% and a year ago, in October 2015, at 8.5%.

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