Uruguay

• Friday, June 24th 2011 - 02:17 UTC

  To contain inflation Uruguay raises benchmark rate 50 points to 8%

  

  As anticipated, Uruguay's central bank raised its benchmark lending rate 50 basis points to 8% on Thursday in an effort to keep inflation within its target range. Uruguay’s consumer price index rose 8.53% in the 12 months through May, far above the official target range of between 4% and 6% set for the 12 months ending June 2012.

• Friday, June 24th 2011 - 00:02 UTC

  Russian meats market paralyzed; Uruguay and Brazil exports affected

  

  The Russian market which has been the main buyer of Uruguayan beef helping to boost cattle prices has virtually ceased operations according to Uruguayan exporters who claim deals are limited to small shipments of livers and tongues.

• Thursday, June 23rd 2011 - 08:58 UTC

  A Uruguayan debt ‘profiling’, an option to help Greece avoid defaulting

  

  With Greece on the precipice of financial collapse and a full Euro confidence crisis looming while EU leaders can’t agree on the next steps, the example of Uruguay in 2002/03 stands out as a successful smart way out of the crisis that spilt over from neighbouring Argentina.

• Thursday, June 23rd 2011 - 00:21 UTC

  Zamin Ferrous project in Uruguay to be submitted to referendum, says President Mujica

  

  President Jose Mujica said that Swiss-based Zamin Ferrous iron-ore project feasibility study for an 18 million mt/year project has not been approved and given the controversy that has surfaced he supports the idea of holding a referendum on the project.

• Monday, June 20th 2011 - 21:10 UTC

  Uruguay presides over the UN Human Rights Council for the next 12 months

  

  Uruguay in representation of the Group of Latin American and Caribbean countries (GRULAC) will occupy for the next twelve months the rotating presidency of the United Nations Human Rights Council which is seated in Geneva.

• Monday, June 20th 2011 - 01:27 UTC

  Uruguayan exporters and government officials clash over costs and the US dollar

  

  Uruguayan exporters and government officials clashed over the (depressed) value of the US dollar in the local market and its impact on overseas sales competitiveness and profits. The differences surfaced during the celebration of “Exporters Day”.

• Sunday, June 19th 2011 - 10:13 UTC

  Uruguay private consumption expanding several points higher than GDP

  

  The Uruguayan economy expanded 2.3% in January-March over the previous quarter, which has elevated forecasts for the twelve months of 2011 to a floor of 6.5%. However the Uruguayan government is concerned that consumption again expanded at a higher rate than GDP.

• Saturday, June 18th 2011 - 03:02 UTC

  Green light for construction of Uruguay’s second pulp mill

  

  The construction of Uruguay’s second pulp mill, which includes a power plant and port facilities have been authorized following the approval of the Montes del Plata environment policies.

• Saturday, June 18th 2011 - 01:04 UTC

  Uruguayan lawmakers mark the difference between “terrorism” and “armed insurgency”

  

  A group of Uruguayan lawmakers have written a letter to Peruvian president-elect Ollanta Humala requesting a more humane treatment for Victor Polay Campos, head of the guerrilla Tupac Amaru Revolutionary Movement, MRTA, jailed since 1992.

• Saturday, June 18th 2011 - 01:02 UTC

  Dead penguins discovered in Uruguayan coast:perished of “natural causes”

  

  The recent discovery of dead Magellan penguins in several beaches of Uruguay’s eastern coast can’t be attributed to intoxication, “but rather natural causes”, said Daniel Gilardoni head of the Uruguay’s Natural Aquatic Resources Administration, Dinara.