LatinNews Daily - 14 September 2018

Uruguay: Uruguay’s central bank (BCU) has released economic growth figures for the second quarter of the year, which show that GDP grew by 2.5% in April-June compared to the same period last year, and by 0.2% in seasonally adjusted terms compared to the first quarter. Economic growth in the second quarter was spurred by internal consumption, as exports fell by 6.7% year-on-year. Uruguay’s economy has fared better than expected amidst fears of contagion from Argentina’s currency crisis. Uruguay’s economy & finance minister, Danilo Astori, assured that the modest second quarter growth shows there will not be a recession in Uruguay, although he acknowledged that the second quarter was “very difficult” for the country because of the crisis in Argentina and a local drought.  

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