Uruguay and Argentina agreed on a three months ban for the hake fisheries in the jointly shared maritime zone with the purpose of protecting juveniles and contribute to the conservation of the resource.
Achieving investment grade in the current global scenario is “not critical” for Uruguay since the country has sufficient financing and operates in world markets as “if it had a better rating than it actually has”, said Economy minister Fernando Lorenzo.
With China's National Day hours away, (October first), countries across Latin America pledged to further deepen ties with China, one of their biggest trade partners.
The Chilean group Arauco, an affiliate of the pulp and paper Copec Enterprises announced on Thursday that together with its European partner they had subscribed 1.354 billion dollars in loans for the construction of a pulp plant in Uruguay.
Uruguay’s Central bank kept its benchmark interest rate unchanged as policymakers focus on bringing inflation back to target in anticipation of possible impacts from a global slowdown.
A Uruguayan government delegation will begin talks on Tuesday in Brazil to address the latest restrictions imposed by Mercosur largest member and which threaten several manufacturing sectors, particularly the auto industry, said Foreign Affairs minister Luis Almagro.
Uruguay is reconsidering the situation and links with Mercosur, given the recent trade obstacles and tariffs imposed by Mercosur senior partners Brazil and Argentina, announced President Jose Mujica in an interview.
Uruguay's government oil corporation Ancap has received expressions of interest from at least 10 foreign companies for 15 offshore oil and gas exploration blocks it is offering in its second licensing round, a company official said in Geneva.
Uruguayan president Jose Mujica admitted a certain ‘stinging feeling’ following the recent Brazilian decision to increase import taxes on vehicles by 30%, which could also have an impact on Mercosur partners.
The IMF forecasts Uruguay’s economy will expand 6% in 2011 and 4.2% the following year. Estimates are in line with targets made public by Uruguay’s central bank.