Tag: Uruguay economy

• Monday, June 2nd 2014 - 08:21 UTC

  Moody's upgrades Uruguay's rating to Baa3, based on reduced 'vulnerabilities'

  

  Moody's Investors Service last Friday announced it had upgraded Uruguay's government bond rating to Baa2 from Baa3, and assigned a stable outlook to the Baa2 rating. The upgrade was driven by the strengthening of Uruguay's sovereign credit profile, as reflected by the convergence of fiscal and debt metric, an overall government debt profile that is currently associated with moderate credit risks, and the country's reduced vulnerabilities to regional and commodity shocks.

• Friday, May 2nd 2014 - 09:27 UTC

  Uruguay's budget fiscal deficit climbs in March to its highest since October 2003

  

  Uruguay's fiscal deficit climbed to 3.2% of GDP during March, the highest since October 2003, --equivalent to 1.69 billion dollars--, but Economy minister Mario Bergara said that there is no risk for “the sustainability of public accounts or sustainability of current macroeconomic policies”.

• Wednesday, April 9th 2014 - 06:30 UTC

  Uruguay significantly stronger but still vulnerable to Argentina, says Fitch

  

  While Uruguay's current financial position is significantly stronger than in the early 2000s when its economy suffered from the effects of the Argentine crisis, a severe downturn in Argentina could still have an important impact on Uruguay's economy through a variety of transmission channels, according to a new special report published by Fitch Ratings.

• Friday, April 4th 2014 - 04:35 UTC

  Uruguayan government feels it can tame inflation based on March's index

  

  Inflation in Uruguay during March reached 0.58% accumulating 4.74% in the first quarter and 9.73% in the last twelve months, which is seen as 'positive' and an indication that recent measures to contain prices are 'being successful', according to Economy minister Mario Bergara.

• Thursday, February 6th 2014 - 04:42 UTC

  Uruguay 12-month inflation in January soars to 9.10%, as energy rebate ceases

  

  Consumer prices in Uruguay during January soared 2.44%, according to the latest release from the stats office, INE, and the highest percentage since 2002. This means accumulated inflation in the last twelve months reached 9,10%, compared to the 8.52% for the twelve months of 2013.

• Friday, January 3rd 2014 - 18:52 UTC

  Record exports in dollars for Uruguay in 2013, but prospects not so encouraging

  

  Uruguayan exports in 2013 increased 4.8% in value and reached a record 9,155 billion dollars with soybean the main item and China the leading trade partner. The data was released by the government export promotion organization Uruguay XXI, which sometimes is over optimistic.

• Thursday, December 26th 2013 - 07:51 UTC

  The Economist’s country of the year: Uruguay

  

  Human life isn’t all bad, but it sometimes feels that way. Good news is no news: the headlines mostly tell of strife and bail-outs, failure and folly.

• Tuesday, December 17th 2013 - 02:28 UTC

  Uruguayan economy on track to 4.1% growth this year and in 2014

  

  The Uruguayan economy contracted 0.7% in the third quarter compared to the previous quarter, although it jumped 3.3% over the same period a year ago, according to the latest release from the Central bank in Montevideo. During the second quarter, the expansion had reached 2.4%, and 1.5% previous to that.

• Thursday, December 5th 2013 - 18:49 UTC

  Inflation in Uruguay during November climbs 0.2%, but still above target

  

  Consumer prices in Uruguay during November increased 0.2% over the previous month with annual inflation reaching 8.51% compared to the 8.67% of October. Nevertheless in the eleven months of 2013, consumer prices have climbed 9.31%, which is a whole percentage point higher than the same period a year ago, according to the latest release from the country's Stats Office, INE.

• Monday, November 18th 2013 - 18:33 UTC

  Astori forecasts Uruguay's inflation in the range of 3 to 7% in the next two years

  

  Vice-president Danilo Astori confirmed that Uruguay will continue with its current flexible foreign exchange policy, because “this has helped us reduce volatilities”, but also admitted concern about inflation, the third highest in South America and fourth in Latin-American and the Caribbean.