Uruguay

Senator Lucia Topolansky, Uruguayan President Jose Mujica’s wife, responded to a report from an Argentine reporter’s analysis which denounced Uruguay as a tax haven. Senator Topolansky stated that the efforts of President Mujica’s government have combated the efforts of previous regimes to turn the country into a tax haven the likes of Luxembourg or the Bahamas. New central bank regulations that were implemented after the 2002 collapse have been successful in opening bilateral agreements and international trade. Consequently, the Uruguayan Central Bank has experienced an enormous influx of purchasing US dollars to maintain the profitability of national exports and their competitiveness on the world market. This is due to “abundant international reserves” in Uruguay which have “forced an excessive appreciation of the Uruguayan currency” and to lower the value of the Uruguayan peso this purchasing of foreign currency is imperative. Lastly, the harsh words President Mujica used to describe Argentine President Christina and her late husband former President Nestor Kirchner; have been forgiven after President Mujica and President Fernandez met in Lima, Peru to show support and recognition of Venezuelan President Nicolas Maduro’s new government. (April 20, 2013 BAH; April 20, 2013 MercoPress; April 19, 2013 MercoPress)