MercoPress, en Español

Montevideo, July 2nd 2025 - 05:21 UTC

Economy

  • Tuesday, July 1st 2025 - 10:55 UTC

    US judge rules against Argentina in YPF restatization case

    The Argentine State retook control of YPF during CFK's second presidency when Kicillof was  economy minister

    Judge Loretta Preska of the Southern District Court of New York ordered Argentina to transfer 51% of YPF shares to an escrow account to settle a US$16.1 billion judgment in favor of Burford Capital and Eton Capital, stemming from the 2012 expropriation of the oil company. The ruling, which Argentina may appeal, surprised the government, as even the US Department of Justice opposed it. The decision led to a sharp decline in YPF shares (1.4% on Wall Street, 3% locally) and a 2% drop in the Merval index.

    Add your comment!
  • Monday, June 30th 2025 - 18:27 UTC

    Orsi speaks wonders of 2030 Agenda in Seville

    “Uruguay cannot neglect any opportunity, and BRICS is another opportunity,” Orsi maintained

    Speaking at the 4th International Conference on Financing for Development Monday in Seville, Spain, Uruguayan President Yamadú Orsi defended multilateralism and the 2030 Agenda as key to addressing global issues like poverty, hunger, and pollution.

    Add your comment!
  • Saturday, June 28th 2025 - 10:39 UTC

    IMF team rounds up mission to Argentina

    The results were not disclosed

    The International Monetary Fund (IMF) concluded a four-day technical mission in Buenos Aires to review Argentina’s compliance with a new US$20 billion agreement signed in mid-April 2025, it was announced Friday in Buenos Aires.

    Add your comment!
  • Friday, June 27th 2025 - 18:54 UTC

    China and Ecuador deepen bilateral ties

    Xi encouraged both sides to effectively carry out key cooperation projects

    Chinese President Xi Jinping welcomed his Ecuadorean colleague Daniel Noboa in Beijing Friday to strengthen bilateral ties, marking the 45th anniversary of diplomatic relations. The leaders signed a cooperation plan to advance the Belt and Road Initiative (BRI), which the South American country joined in 2018, to boost infrastructure, trade, and investment.

    Add your comment!
  • Tuesday, June 24th 2025 - 10:25 UTC

    Argentina's GDP grows 5.8%, Indec reports

    Imports significantly outpaced exports, the national agency also noted

    Argentina's Gross Domestic Product (GDP) grew by 5.8% year-over-year and 0.8% compared to the last quarter of 2024 in the first quarter of 2025, the National Institute of Statistics and Census (Indec) reported Monday in Buenos Aires.

    Add your comment!
  • Tuesday, June 24th 2025 - 10:12 UTC

    IMF mission arriving in Buenos Aires to monitor progress

    Economy Minister Luis Toto Caputo's management fell short of the IMF's reserve target

    A technical mission from the International Monetary Fund (IMF), led by Bikas Joshi, is due in Buenos Aires on Tuesday to conduct the first review of Argentina's new economic program. The proceedings were initially set for June 15 but postponed to allow more time for the Libertarian Government of President Javier Milei to meet reserve targets.

    Add your comment!
  • Monday, June 23rd 2025 - 10:31 UTC

    Will Iran block the Strait of Hormuz?

    The price of oil is expected to soar amid the escalating conflict

    In response to the United States' attack on Saturday, the Iranian Parliament has approved closing the Strait of Hormuz. The decision, which could hinder international trade significantly, particularly that of oil, is awaiting approval from Iran's Supreme National Security Council.

    2 comments
  • Monday, June 23rd 2025 - 10:00 UTC

    Bolivia says US attacks on Iran were “arbitrary”

    Bolivia's links with Iran go beyond a mutual friendship

    Bolivia's President Luis Arce Catacora and the South American country's government condemned the US military strikes on Iran's nuclear facilities at Fordow, Natanz, and Isfahan, calling them an “arbitrary attack” that violates international law and the UN Charter.

    Add your comment!
  • Friday, June 20th 2025 - 09:07 UTC

    Argentina: unemployment hits record figures

    Unemployment grew 0.2% yoy in Q1 of 2025

    Argentina's unemployment rate rose to 7.9% in Q1 2025, the highest since Q3 2021, up 0.2% from Q1 2024 and 1.5% from Q4 2024, according to a report from the National Institute of Statistics and Census (Indec) released Thursday in Buenos Aires.

  • Thursday, June 19th 2025 - 09:49 UTC

    Brazil: Selic rate upped for the seventh straight time

    The Copom's decision was unanimous

    Despite falling inflation, Brazil's Central Bank (BCB) raised the Selic interest rate on Wednesday by 0.25 percentage points to 15%, its zenith since 2006, citing ongoing economic uncertainty. The unanimous Monetary Policy Committee's (Copom) move surprised local markets, who anticipated it would stay at 14.75%.

Previous