Pay rise of 30 percent comes amid runaway inflation and food shortages as socialist government hopes to calm tensions.
President Nicolas Maduro says the move will protect jobs and incomes. Critics say it may worsen the crisis. The International Monetary Fund says inflation will reach 1,600% this year.
Venezuela is issuing new higher-value notes to help deal with some of the practical problems of soaring inflation.
Inflation is so bad here, that the Central Bank stopped publishing its consumer price index for more than a year. They only resumed regular publication months ago. And when it resumed, it was bad news.
Venezuela’s petroleum industry, whose vast revenues once fueled the country’s Socialist-inspired revolution, underwriting everything from housing to education, is spiraling into disarray.
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Uruguay's budget deficit reached 4% of GDP during 2016, equivalent to US$ 2.043bn, the worst performance since 1989, according to the latest figures released by the government's stats office, INE.
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Trade promotion agency Uruguay XXI and the European Union delegation plan to hold the 1st European Investment Forum June 21-22 in Montevideo as part of an effort to increase business in the South American country
The free trade agreement allows us to defend the presence of our products in the markets and will provide easier market access
The goal is to help investors avoid paying taxes on their activities in both Uruguay and Chile. E-commerce, intellectual property, cooperation, labor and gender rights will be addressed in the free trade agreement.
After improving the tourist passes, the government will undertake the necessary investments to improve the logistical trade flow of cargo transport in those border passes,
Uruguay has a great deal of interest in advancing toward freer trade with China, since that country is Uruguay’s leading trade partner
The country can't rest on its laurels, says Development Bank of Latin America representative
In his current two-week visit to Europe, Uruguayan President Tabare Vasquez will look to persuade investors into his $12 billion roads and railways plan.
Uruguay consumer prices rise at fastest pace in 12 Years, getting inflation accelerated to 10.23% in February as peso weakens
“The executive branch is going to take this to the end, and if China wants an agreement we’ll reach an agreement and it will be up to the legislature to either approve or reject it,” Foreign Minister Rodolfo Nin Novoa
The Uruguay-Mexico Joint Cooperation Fund unveiled a project on Tuesday for supporting entrepreneurs via the creation of a Mexican-tested website open to founders of new businesses.
Uruguayan Minister of Transport Víctor Rossi and the Belgian Vice Prime Minister Didier Reynders went ahead with the expansion of Pier C.
Urban unemployment in Latam will hit 7% this year, growing 0.5 percent point from last year’s 6.5% rate, the International Labour Organization (ILO) and the Economic Commission for Latin America and the Caribbean (ECLAC)
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