Former Banco República of Uruguay (BROU) CEO Fernando Calloia's 20-month jail sentence was upheld Tuesday by Uruguay's Supreme Court, thus extinguishing the chain of appeals available to the defendant.
Uruguay's government knows nothing about a lawsuit from a US investment fund for the bankruptcy of the flag airline PLUNA, Transport Minister Víctor Rossi explained Wednesday.
On Sunday 2.6 million Uruguayan registered voters will decide who will be their next president plus 30 Senators and 99 Lower House members. If no presidential candidate makes 50% of valid ballots plus one, the most probable result a run off takes place at the end of November between the two most voted candidates.
The Uruguayan Judiciary branch warned President Jose Mujica that he is in contempt of justice for ignoring a budget bill that contemplates salary increases for judges and other members of independent government bodies.
Uruguay will continue to consolidate its market friendly policies, pledged incoming Economy minister Mario Bergara, 48. on taking office on Thursday surrounded by President Jose Mujica and Vice president Danilo Astori. He replaced Fernando Lorenzo who was forced to resign following a major scandal involving the failure and shut down of the country's flag air carrier Pluna.
Uruguay's economy minister Fernando Lorenzo resigned on Saturday in the face of questions over the alleged irregular sale of government-owned airplanes following the closure of Pluna, the country's flag carrier, President Jose Mujica announced at a brief press conference, with no questions taken, next to Vice president Danilo Astori.
Uruguay seems to be recovering its air connectivity after a rough year that saw the closing down of its flag air carrier Pluna, and the announcement by Spanish airline Iberia that it will cease flights between Montevideo and Madrid as of next April. Iberia is the only European airline currently calling in Uruguay.
Uruguay’s budget fiscal deficit soared to 1.35 billion dollars or 2.8% of GDP last year, the highest since 2003, propped by energy costs, extraordinary one time payments and support for the recently implemented national health scheme, according to a release from the Ministry of Economy.
The country “needs leaders in government, not demagogues” said Juan Carlos López Mena a leading businessman of Uruguay’s tourism and transport industry who is also investing heavily in agriculture and an incipient regional airline.
Spanish airline Cosmo which purchased in an auction in Montevideo seven aircraft from Uruguay’s liquidated flag-carrier Pluna said they will be used “to expand the charter flight business in Central and Eastern Europe”, according to an official company communiqué released by the Spanish government news agency EFE.