February 22, 2017
Wednesday, August 15, 2012

Economic situation in Argentina could affect Uruguay, Mujica

President of Uruguay, José Mujica.

Uruguay’s President José Mujica said today that the economic situation in Argentina could affect the neighbouring country.

Therefore, the Uruguayan Head of State stated the necessity to look for new markets in order to broaden the diversity of exports.

In an interview with Uruguay newspaper La República, Mujica indicated that the economic situation Argentina is currently experiencing “could well affect us in the future,” and that “there’s no need to put all of your eggs in one basket.”

“There is need to create a realistic balance; the Mercosur from before, the 90s, born in a stage of neo-liberalism and change. Today we have an institutional crisis and there’ll need to be changes, particularly to do with flexibility,” the Uruguayan Head of State said.

In the same article, it was made clear that Argentina’s economic situation is being followed by authorities and economists in Uruguay, who haven’t ruled out a possible devaluation and affects on business, tourism and real estate business with the neighbouring country.

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Tags:  Mujica  Uruguay  country  economy  basket  Argentina  neighbour  

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