Uruguay Roundup: Copa America 2024, Paul McCartney’s South American tour, La Niña
Copa America 2024 squad
Uruguay's Copa America 2024 squad is led by famed Argentine manager Marcelo Bielsa. Despite a lack of star power and a new goalkeeper in Sergio Rochet, they have a strong winning mentality and experienced players like Luis Suarez. Expectations are high for Uruguay to reach the final, and Bielsa's tactical ideas may make them the story of the competition.
Paul McCartney kicks off South American tour in Uruguay
Paul McCartney will kick off his South American ‘Got Back Tour’ on October 1 in Montevideo, Uruguay’s capital, at the historic Estadio Centenario. This marks his return to the venue a decade after his last performance there. The tour will also include stops in Argentina, Chile, and Peru, with a final performance at the Estadio Nacional in Lima on October 27, Latin American Post reports.
World Bank predicts economic growth
The World Bank predicts a 3.2% growth for Uruguay in 2024, despite a poor average performance in the region. The "World Economic Outlook" predicts growth in Latin America and the Caribbean to reach 1.8% in 2024 rising to 2.7% in 2025 as inflation declines. Commodity prices will support exports, but weak growth in China could limit demand. Uruguay's growth is forecasted at 2.6% for both 2025 and 2026. The World Bank also published an update of the 2023 Container Port Performance Index, ranking Montevideo 384th out of 405 ports worldwide. Ports and terminals can cause shipment delays, supply chain interruptions, additional costs, and reduced competitiveness, MercoPress reports.
UK imposes restrictions on Uruguay-owned Fintech
UK regulators have imposed restrictions on a financial technology company owned by Uruguay's first-ever billionaires, Larstal Ltd., as part of a wider crackdown on payments firms that process hundreds of millions of dollars worth of transactions daily, Bloomberg reports. The Financial Conduct Authority (FCA) has barred Larstal Ltd. from providing payment services or taking on new customers without the watchdog's written approval. The company specialises in processing transactions for high-risk clients in industries including online gambling, foreign exchange trading, and adult entertainment, with the bulk of its business taking place across emerging markets such as Brazil and India. , According to Bloomberg, AstroPay owed several million dollars to customers at the end of 2022.
Quantification of underground waters in anticipation of La Niña
Uruguay is preparing for the potential impacts of La Niña on agricultural production and water access. The Ministry of Environment is monitoring underground water reserves and researching their potential use in anticipation of drought. Last year's severe drought has led the country to better prepare for the future. Meteorological estimates indicate a high probability of La Niña developing between June and September, Prensa Latina reports.
