The Central Bank of Uruguay (BCU) presented its 2026-2030 Strategic Plan, aimed at modernizing the financial system through the incorporation of artificial intelligence. A draft open finance bill is planned that would allow users greater control over their data in the sector. On the other hand, the country will seek to control inflation and promote loans in pesos, the local currency.

The plan’s main focuses are consolidating a mature monetary regime aligned with international standards; reducing the inflation target; reconstruction of peso-denominated markets, reduction of tax and parafiscal costs associated with dollarization; new investment laws.

The Central Bank of Uruguay (BCU) is working on “a draft bill for Open Finance, which would enable an ecosystem where users can have greater control over their own financial data, and design a minimum public infrastructure that functions as an interoperability layer between entities.”

The five-year plan also includes strengthening the National Strategy for Combating Money Laundering, Terrorist Financing, and the Proliferation of Weapons of Mass Destruction, approved in July of last year and in effect until March 2030.

M.Pino

Source: ambito

(Reference image source: Nikolai Kolosov on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Uruguay prepares for financial system modernization apareció primero en Bitfinance.

The members of the Southern Common Market (Mercosur) are analyzing the possibility of Venezuela’s reincorporation into the trade bloc, taking into account the easing of sanctions against the country as well as changes in the political landscape.

In this regard, Brazil’s Vice President, Geraldo Alckmin, suggested that Venezuela’s suspension could be reviewed, “arguing that the nation is currently going through a different phase than in 2017, the year it was excluded from the organization.”

Furthermore, the group’s members are considering the restoration of relations between Venezuela, the IMF, and the World Bank.

In any case, “for Venezuela’s return to materialize, the block requires the absolute consensus of its founders. This implies a new technical evaluation of compliance with the political, customs, and human rights standards required by the organization.”

It is important to note that the analysis of Venezuela’s return to the trade bloc is taking place during a Mercosur restructuring. Furthermore, the measure has not only political implications, but also energy and commercial ones, since the return “would allow Caracas to normalize its export routes to the south and allow member countries to recover a partner with vast hydrocarbon reserves.”

M.Pino

Source: puntodecorte

(Reference image source: Isabela Kronemberger on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Mercosur to consider Venezuela’s reincorporation apareció primero en Bitfinance.

The issue of wages is debated globally. The pursuit of workers’ social and economic well-being drives negotiations between unions, labor federations, and government representatives. Recent reports from Bloomberg Linea indicate that three countries in Latin America have the highest monthly minimum wages: Costa Rica, Uruguay, and Panama, where salaries are $751, $648, and $637, respectively.

They are followed by Colombia, where workers’ income this year is $548, including the transportation subsidy.

Comparisons with European countries can reveal profound differences that affect the population’s quality of life. According to data from Globalization Partners, Luxembourg currently has the highest base salary in the world, exceeding $3,100 per month.

“This figure, which sets an unprecedented standard, reflects the high cost of living in Europe and legal frameworks designed to protect the financial stability of the workforce,” they note.

Back in Latin America, the differences from country to country are also significant, due to indicators such as inflation and the macroeconomic instability of each nation.

M.Pino

Source: eltiempo

(Reference image source: Sasun Bughdaryan on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Three Latin American countries have the highest monthly minimum wages apareció primero en Bitfinance.

The data recently published by the Consumer Price Index of Uruguay’s National Institute of Statistics shows that year-on-year inflation fell from 5.03 % to 4.09 % in November, thus completing 30 consecutive months within the tolerance range set by the Yamandú Orsi administration, which ranges from 3 % to 6 %.

The National Institute of Statistics reports that “the monthly inflation rate was 0.14 %, while the year-to-date rate was 3.74 %.”

Among the main contributors, expressed as percentage points to the overall monthly inflation rate, were food and non-alcoholic beverages (-0.06 %), health (0.03 %), transportation (0.07 %), and restaurants and accommodation services (0.04 %).

M.Pino

Source: swissinfo

(Reference image source: Zoshua Colah on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Uruguay’s inflation fell to 4.09 % in November apareció primero en Bitfinance.

During the opening of the XXVIII Ibero-American Free Trade Zone Conference, Uruguayan President Yamandú Orsi emphasized the positive impact on the local economy of this model.

The president stated, “This is a model that has enormous strength worldwide today,” and referred to the role of free trade zones in investment and employment in Uruguay.

During his tenure as mayor of Canelones (southern Uruguay) from 2015 to 2024, Orsi witnessed firsthand how free trade zones generated “many jobs.”

In the South American nation, “they represent almost 7 % of Uruguay’s Gross Domestic Product, generated more than 66,000 direct and indirect jobs, and account for a third of the country’s exports,” according to figures from the Chamber of Free Trade Zones.

M.Pino

Source: xinhua

(Reference image source: Alex Teixeira on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Free trade zones have a positive impact on Uruguay’s economy apareció primero en Bitfinance.

Uruguay reached an important agreement between Mercosur and the European Free Trade Association (EFTA), considered highly positive by the country’s Exporters Union.

For the organization, this opens access to new markets “considered attractive by the productive sector.” Foreign Minister Mario Lubetkin described the agreement as “historic, in a context where the Yamandú Orsi government seeks to open markets to boost growth.” The private sector is also enthusiastic about the agreement, given that it encompasses attractive markets.

The Mercosur member countries — Argentina, Brazil, Paraguay, and Uruguay—along with the EFTA member countries — Iceland, Norway, Switzerland, and Liechtenstein— “represent a combined GDP of over $4.3 trillion and a market with some 300 million consumers.” The agreement is important for all involved and is the first “group-to-group” agreement of the regional bloc.

The combined GDP of the eight nations that signed this agreement reaches $4.4 trillion. “In the case of Uruguay, trade with EFTA countries is only $35 million annually.” According to Lubetkin, this is very low, and the goal is to increase it.

According to the Foreign Minister, “the Vice President of Switzerland invited President Orsi to visit the country in 2026.  Additionally, Ireland and Norway expressed interest in establishing ties with Uruguay and in purchasing specific products.” Although the products were not specified, they would likely include agricultural and agro-industrial products such as apples, peaches, blueberries, wheat, rice, and garlic.

M.Pino

Source: infobae

(Reference image source: Ian Taylor on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Uruguay celebrates historic agreement between Mercosur and EFTA apareció primero en Bitfinance.

Canada and Mercosur member States will resume negotiations on a free trade agreement in October, a Brazilian representative said last week.

The announcement comes as a light at the end of the tunnel for the parties amid the tariff offensive by US President Donald Trump.

Talks between Canada and Mercosur — made up of Brazil, Uruguay, Paraguay, Bolivia, and Argentina — are crucial for opening new trade opportunities in both regions.

The Ministry of Foreign Affairs of Brazil, the current president of Mercosur, stated in a statement that the resumption of trade negotiations “between Mercosur and Canada constitutes an unequivocal sign of our shared commitment to deepening mutually beneficial economic ties and opening up new and significant opportunities.”

M.Pino

Source: swissinfo

(Reference image source Mariah Dalusong on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Mercosur and Canada to resume free trade agreement negotiations apareció primero en Bitfinance.

The capital of Uruguay, Montevideo, will host the Blockchain Summit Global 2025 this Friday, July 25, a highly important event in the digital finance sector, where more than 20,000 people are expected to attend.

The city “will become the most important meeting point for the Spanish-speaking Web3 community,” hosting this new edition of the event at the Radisson Hotel, “which has brought together leaders of the digital ecosystem since 2018 to discuss the future of blockchain, digital assets, artificial intelligence, and more.”

It will be held in a hybrid format; that is, with in-person participation and live-streaming for audiences connected from around the world. “In previous years, the Summit attracted more than 20,000 registered attendees, with more than 4,000 virtual attendees and 400 in-person attendees per edition.”

The Blockchain Summit Global 2025 will be a space to learn about the most relevant aspects of the technological world in this area: “blockchain, Web3, digital assets, NFTs, tokenization, DeFi, AI, cybersecurity, fintech, and IoT.” International and regulatory experts will participate, as well as entrepreneurs and leading figures in the sector.

The agenda includes keynote addresses, workshops, panel discussions, live Q&A sessions, as well as high-level networking with companies, startups, and public organizations.

M.Pino

Source: cripto247

(Reference image source: Morthy Jameson on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Montevideo to host Blockchain Summit Global 2025 apareció primero en Bitfinance.

The Summit for Democracy and Multilateralism will take place in Santiago, Chile, on July 21st. The event will be chaired by President Gabriel Boric.

The Chilean president will welcome his counterparts Luiz Inácio Lula da Silva of Brazil, Gustavo Petro of Colombia, Yamandú Orsi of Uruguay, and the Prime Minister of Spain, Pedro Sánchez.

This was announced on Tuesday, July 8, by the Chilean Presidency in a statement, adding that the summit, entitled “Democracy Always,” will be held at La Moneda Palace in the Chilean capital.

There, the leaders of the five nations will debate to “advance toward a common position on global challenges and in pursuit of multilateralism, democracy, and cooperation based on social justice.”

The organization of this meeting began in 2024 “during the 79th session of the United Nations General Assembly, at the first meeting “In Defense of Democracy, Fighting Extremism,” organized by Lula da Silva and Pedro Sánchez.”

The proposals emerging from this summit in Santiago, Chile, will be presented during the 80th session of the United Nations General Assembly, an event scheduled for September of this year in New York, United States.

M.Pino

Source: peopledaily

(Reference image source: Thomas Griggs on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Chile to host International Summit for Democracy and Multilateralism apareció primero en Bitfinance.

Venezuelan Foreign Minister Yván Gil announced on Thursday, June 12, that consular services with Uruguay will be reactivated, following an agreement between the two countries.

In a statement on Telegram, the foreign minister indicated that this agreement “is the result of joint work between both parties” to resume serving citizens of both territories.

As you may recall, consular services between Caracas and Montevideo were suspended on July 29, 2024, one day after the presidential elections in Venezuela. The measure also included Chile, Argentina, Costa Rica, Peru, Panama, and the Dominican Republic.

This decision affected Venezuelan migrants in Uruguay and Uruguayans in Venezuela, leaving them in uncertainty about consular procedures and official assistance.

The reactivation of consular services “will allow both communities to once again access essential procedures.”

M.Pino

Source: finanzasdigital

(Reference image source: Romain Dancre on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Venezuela and Uruguay will reactivate their consular services apareció primero en Bitfinance.