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LatinNews Daily - 14 August 2019

In brief: Uruguay’s Astori expresses concern about Argentina

* Uruguay’s Economy & Finance Minister Danilo Astori has told reporters he is “worried” about the impact that Argentina’s economic difficulties could have on the Uruguayan economy. His remarks come amid more general concern following the financial turmoil folloing the party primary elections in Argentina which gave a major victory to the Frente de Todos opposition presidential ticket led by Alberto Fernández. According to analysists consulted by Uruguayan daily El País, Argentina’s economic problems will affect local commerce, tourism and investment capital while Astori was cited as saying that “Argentina is the main consumer of Uruguayan tourism… and thus the industry has been affected in recent years”. Astori has recognised that “Uruguay has detached from Argentina in some areas”, including banking and finance, “but the impact within the trade services cannot be avoided”. However, Astori did note that in terms of the value of the US dollar in Uruguay, the volatility in Argentina will not pass onto Uruguay.

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