Tag: Uruguay

Thursday, January 3rd 2013 - 15:46 UTC
Uruguay exports in 2012 reach 8.7bn dollars, a new numerical record

Uruguay exports increased 9% last year over 2011 reaching 8.751 billion dollars a numerical historic record according to the primary figures released by the Instituto Uruguay XXI, a government funded organization to promote foreign trade. Soybeans, beef and rice remain as Uruguay’s main export items.
Thursday, January 3rd 2013 - 06:02 UTC
Record purchase of US dollars to keep Uruguayan Peso from further appreciation

Uruguay’s Central bank on Wednesday made its largest purchase of US dollars on record totalling 120 million dollars following on the bank’s monetary committee decision in the last week of 2012 to increase the basic rate to 9.25% as the country struggles to contain inflation.
Thursday, January 3rd 2013 - 00:40 UTC
Uruguayan president believes Argentine economy “can’t remain closed much longer”

President Jose Mujica anticipated that the Argentine economy can’t remain ‘closed for much more time’ (protectionist) and forecasted that 2013 will be a ‘clear year’ for Uruguay regarding economic issues.
Saturday, December 29th 2012 - 04:07 UTC
Uruguay raises basic rate to 9.25%: “inflation the key risk of the economy”

Uruguay’s Central bank raised its benchmark interest rate on Friday for the second time this year as policy makers struggle to bring inflation into the government’s target range. The IMF and local economists have warned about the need to “tackle inflation”, particularly since the budget’s fiscal deficit has soared in just twelve months from 0.4% of GDP to over 3% of GDP.
Thursday, December 27th 2012 - 02:38 UTC
“Uruguay needs leaders in government, not demagogues” says transport businessman

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.
Wednesday, December 19th 2012 - 19:34 UTC
State of the art dairy farm in Uruguay with 8.000 milking cows and self generating power

A state of the art dairy farm with 8.000 milking cows that will export powder milk, create 300 qualified jobs and generate its own energy from the animals’ dung is scheduled to open its first phase next April in Durazno, Uruguay.
Monday, December 17th 2012 - 06:03 UTC
Talvi says Uruguayan government reacts with ‘authoritarian ticks” to criticism

The head of an economics think-tank said that the Uruguayan government reactions to his criticisms of the management of the country’s economy are a kind of “authoritarian tick” which pretends to censor all those who do not share the “official truths”.
Monday, December 17th 2012 - 05:57 UTC
Korean trawler catches fire in Montevideo; crew saved and no ammoniac on board

A Korean flagged trawler that caught fire in early morning Sunday has been tugged to the middle of the bay of Montevideo where a combined effort of Uruguayan Coast Guard, port authorities and fire fighters have controlled the flames after rescuing forty crewmembers, mostly Chinese, Vietnamese, Indonesian and Korean officers.
Friday, December 14th 2012 - 07:42 UTC
Uruguayan economy expands 3% in third quarter boosted by construction of pulp mill

Uruguay’s economy grew faster than economists expected in the third quarter, spurred by increased construction, transportation and communications activity. GDP expanded 3% from a year earlier, the central bank said on Thursday on its website. The economy grew 1.2 percent from the second quarter, the bank said.
Wednesday, December 12th 2012 - 19:34 UTC
Uruguay’s fiscal and salaries policies out of control plus heterodox ‘solutions’ rumours

Uruguay has “politicized the management of its economy” with the government letting the “trade unions and its political allies” master the country’s budget and the salaries policy, claimed Ernesto Talvi a conservative economist from the local think-tank CERES who is also a World Bank consultant.