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LatinNews Daily - 21 April 2021

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In brief: Uruguay announces new pandemic support measures

* Uruguay’s economy & finance minister, Azucena Arbeleche, has announced new measures designed to support the sectors most affected by the coronavirus (Covid-19) pandemic. The measures, which will concern all firms in the tourism, transport, education, culture, and sports sectors, include exemptions from social security contributions for the first half of the year, as well as exemptions from the monthly corporate income tax (IRAE) over the same period. Arbeleche also announced zero-interest credit lines of up to Ur$25,000 (US$564.5) for micro-sized firms in these sectors, the possibility for firms to restructure any debt already subscribed through the national development agency (Ande) last year, and the relaxation of the rules to access unemployment benefits. During the announcements, which Arbeleche made alongside the labour, tourism, social development, and industry ministers, she noted that the government’s ‘coronavirus fund’ will grow to US$900m.