Uruguay

• 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.

• Saturday, December 22nd 2012 - 20:07 UTC

  Uruguayan famous striker holds football training camp in the Falklands

  

  Footballers both young and old, in the Falkland Islands have had the opportunity and rare privilege this last week of being coached by one of the game’s legends.

• Thursday, December 20th 2012 - 20:38 UTC

  Uruguay diversifies energy mix with 530 MW combined-cycle-gas-power plant

  

  The Inter-American Development Bank (IDB) has approved a loan for 200 million dollars to Uruguay to help finance the construction of a 530 MW combined-cycle gas power plant to help diversify the country's energy mix in an environmentally sustainable manner.

• 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 - 20:35 UTC

  “Tackling inflation”, Uruguay’s top priority says IMF and suggests government cuts spending

  

  “Tackling inflation is Uruguay’s priority” said the International Monetary Fund board on Friday after inflation in October climbed to 9.1%. Monetary policy is not enough: the government must make efforts to cut back government spending and moderating wage growth insisted the IMF.

• 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.