Uruguay

• Tuesday, April 5th 2011 - 10:11 UTC

  Uruguay has no plans to issue new debt: 2011 obligations comfortably covered

  

  Uruguay's economy minister said the country had no concrete plan to issue new debt because it had already covered 2011 obligations and debt servicing costs will fall in 2012. Nevertheless he complained about the “poor treatment” of Uruguay by the risk rating agencies.

• Monday, April 4th 2011 - 07:17 UTC

  Mujica promises businessmen economic policy to remain on course and reliable

  

  Uruguayan president Jose Mujica ratified this weekend before 1.200 businesspeople that his administration will keep the course and ‘reliability’ of the current economic policy, although this will not impede “changes that may surface consequences of the moment”.

• Monday, April 4th 2011 - 07:08 UTC

  Source rock and possible shale oil discovered in the centre of Uruguay

  

  Uruguay state-run oil and gas company ANCAP announced the discovery of source rock which might contain underground shale oil or natural gas deposits.

• Saturday, April 2nd 2011 - 07:57 UTC

  Latam wind energy expanded 50% in 2010; Argentina has the greatest potential

  

  Installed wind farm capacity in Latin America grew by 50% during 2010, and more than 2,000 MW of wind power are now operating across the region, according to the Global Wind Energy Council, GWEC.

• Friday, April 1st 2011 - 17:53 UTC

  Uruguay’s fiscal deficit up in February equivalent to 1.4% of GDP

  

  Uruguay’s fiscal deficit in February increased GDP 0.3 percentage points over the previous month and reached 1.4% of GDP according to the Economy Ministry. In nominal terms the overall public sector deficit (including regional governments and the National Insurance bank) was 453 million US dollars, 20% higher than in January.

• Friday, April 1st 2011 - 17:51 UTC

  Uruguay’s government debt up 5.9% in 2010 but down to 57.9% of GDP

  

  Uruguay’s government debt increased both in gross and net terms in 2010, although at a slower rate than in 2009. Overall the debt increased 5.9% (1.3 billion US dollars) totalling 23.185 billion USD which is equivalent to 57.6% of GDP, according to the latest release from the central bank.

• Friday, April 1st 2011 - 01:54 UTC

  Mujica: we need Venezuela in Mercosur “to help balance the group”

  

  Uruguayan president Jose Mujica promised his peer Hugo Chavez he would press strongly for Venezuela’s incorporation as full member of Mercosur because this will help balance the group.

• Friday, April 1st 2011 - 01:31 UTC

  Uruguay’s two main challenges: infrastructure and education

  

  Two are the main challenges faced by Uruguay to ensure sustained economic growth and to improve inequalities: infrastructure and education, and one main danger, self complacency.

• Thursday, March 31st 2011 - 14:11 UTC

  Uruguay’s wholesale prices soared 10.82% in the first quarter of 2011

  

  Uruguay’s wholesale prices soared in March for the third month running reaching 4.42%, the highest since 2010, reports the country’s Statistics Institute, INE.

• Thursday, March 31st 2011 - 14:06 UTC

  Foreign direct investment in Uruguay recovers in 2010: up 28% from 2009

  

  Foreign direct investment in Uruguay reached 1.6 billion US dollars in 2010, up 28% from 2009, according to the fourth quarter Balance of Payments report released this week by the country’s Central bank.