Canada: Uruguay’s potential North Star
In the face of MERCOSUR difficulties, Uruguay could find a valuable trading partner in Canada if it considers becoming a free trade zone.
In the face of MERCOSUR difficulties, Uruguay could find a valuable trading partner in Canada if it considers becoming a free trade zone.
Although Argentines responded positively to the Fernández administration’s strict quarantine measures at the beginning of the COVID-19 pandemic, as the number of COVID-19 cases increase, these same measures have become politically and economically untenable.
As Latin America becomes the epicenter of the COVID-19 pandemic, and Brazil the country with the highest number of cases, Uruguay has managed to avoid the record breaking surge.
The IMF’s repeated attempts to rescue Argentina’s troubled economy – in 21 separate lending programs – have not won it many fans.
Argentina has given creditors until May 8 to consider its debt restructuring proposal. But time is of the essence as the country nears the end of a grace period that could mean Argentina’s ninth default.
Argentina’s Jenga-like economy will require a high level of policy coordination, but in the South American country’s complex and debt-burdened setting, this can be a tall order.
Argentina’s incoming President Alberto Fernández faces the almost impossible task of fixing the country’s economy. What are the policies that the next government holds in store and what are the costs it’s willing to bear?
Chubut—Argentina’s second richest province in oil and gas reserves—is a microcosm of the ills that trouble the South American country and provide a warning of what could come.