Uruguay’s retail inflation jumped an unexpected 1.23% in August, the highest in the last 14 months, totalling 5.11% in eight months and 7.28% in the last twelve months. If the tendency is confirmed during the last four months of 2009, the consumer prices index would be above the Central Bank’s upper target of 7%.
The risk-rating agency Moody’s Economy anticipates that whoever wins in Uruguay’s October presidential election, the only certainty is that “there will be changes in economic policy” and in regional inter-action, including a review of Mercosur relations.
Uruguay submitted a summary of the official request to extend the limits of its continental shelf from 200 to 350 miles, --in accordance with the United Nations Convention on the Law of the Sea--, to the Commission on the Limits of the Continental Shelf, CLCS, which is holding its 24th session in New York.
Two Argentine vessels illegally fishing in Uruguayan waters were arrested over the weekend by a fisheries patrol from the Navy. The vessels had 90 tons of yellow croaker in their holds.
With only two months left for Uruguay’s October general election President Tabare Vazquez, as had been anticipated, reshuffled his cabinet which included a major surprise: his main advisor and most trusted man was moved from Foreign Affairs to the ministry of Defence.
The Port of Montevideo has taken delivery of four state-of-the-art portico cranes, giving it the most advanced equipment of its type in Latin America and marking a further step in the effort to position it as the region’s leading seaport, the port operations company said.
“Unless we face an abrupt and overwhelming change in the vote tendency of the majority of Uruguayans, the next president of the country will be the opposition National Party candidate, Luis Alberto Lacalle”, according to independent pollster MPC.
For many Uruguayans living in the New York area, the 25th August is not only an important day to remember their origins, but also a day to meet old and new friends, alike.
US-based entrepreneur Steve Bowman and his wife, Chris, looked in Panama and researched other tropical locales before they bought property in Piriápolis, Uruguay’s old resort town, 18 months ago. Their reasons for choosing Uruguay included the country’s stability and relatively unspoiled coastline, as well as the friendly people.
Uruguayan cruise operators believe the coming season could unveil some interesting surprises in spite of the global recession. The fall in value of the US dollar compared to the strength of the Euro and Latinamerican currencies could see a drastic change in the nationality of visitors with Europeans and Latinamericans compensating the US deficit.