Business climate remained stable in Latin America during the second quarter of the year in spite of signs of the incipient global financial crisis, according to the Brazilian Foundation and think-tank Getulio Vargas. Uruguay and Colombia led the pack of the most pro-business countries in the region.
The following feature piece from Reuters written by Hillary Burke and Malena Castaldi gives an idea of Uruguay’s international standing.
Uruguay’s beef industry is short of cattle and the annual slaughter for 2011 is expected to be the lowest in a decade, similar to ten years ago when the foot and mouth disease crisis that isolated the country from world markets.
Brazilian leading meatpacker Marfrig will not be considering takeovers until 2012, Chief Executive Marcos Molina dos Santos said on Monday after the company posted a second-quarter net loss.
New US claims for unemployment benefits dropped to a four-month low last week, government data showed Thursday, a rare dose of good news for an economy that has been battered by a credit rating downgrade and falling share prices.
Uruguayan President Jose Mujica said Monday that the developed world financial scenario is quite disappointing almost regrettable, and recovery in those countries can be expected to be “very slow and full of uncertainties”
“I have no doubts we are before the most significant financial crisis capitalism has faced in contemporary history”, said Uruguay’s Vice-president Danilo Astori when asked about the possible consequences for the region if the lack of confidence in the US dollar and Euro extends.
The sale of power from landlocked Paraguay to Uruguay remains in suspense given a “difference” in the toll price for the use of the Argentine grid to deliver the power.
Soybean was king of corps in Uruguay last summer with 1.5 million tons planted in 862.000 hectares and with an average yield of 1.788 kilos per ha, according to the latest data from the country’s Agriculture Statistics Office, DIEA.
The Inter-American Development Bank (IDB) approved a 200 million dollars loan for Uruguay’s second major pulp mill investment, Celulosa y Energía Punta Pereira S.A. and Zona Franca Punta Pereira S.A., belonging to the Montes del Plata Group.