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MercoPress, en Español

Montevideo, May 9th 2024 - 06:52 UTC

Economy

  • Tuesday, April 16th 2024 - 10:26 UTC

    Gradual improvement reported at Panama Canal

    Weather conditions got worse given the arrival of the El Niño phenomenon affecting the number of ships using the interoceanic corridor

    Things are looking up for the drought-stricken Panama Canal as new water levels allow an increase in the daily number of ships allowed through the man-made interoceanic corridor. Starting in June, 32 ships will be let through, it was announced Monday.

  • Monday, April 15th 2024 - 23:59 UTC

    Brazil and Argentina have much in common despite opposing presidents

    Argentina's relations with Brazil are a state policy, Mondino said at a press conference alongside Vieira

    Foreign Ministers Mauro Vieira of Brazil and Diana Mondino of Argentina met in Brasilia on Monday for talks aimed at bringing South America's two largest countries closer together, despite the opposing views of presidents Luiz Inácio Lula da Silva and Javier Milei, especially on each other.

  • Monday, April 15th 2024 - 10:00 UTC

    Brazil and Mexico looking ahead at significant economic growth

    Brazil has a favorable business environment in sectors such as technology, renewable energies, and agribusiness

    Only Brazil and Mexico would survive as world economic powers in Latin America by 2030, according to a study by PricewaterhouseCoopers (PwC) and Standard Chartered released last week. The two countries are expected to experience significant economic growth within the next six years.

  • Saturday, April 13th 2024 - 10:33 UTC

    Georgieva confirmed for another term at the helm of the IMF

    The new term runs until Georgieva is 76 years old. Until her appointment in 2019, the age limit for holding office was 65

    The Board of Directors of the International Monetary Fund (IMF) Friday confirmed that Bulgarian Economist Kristalina Georgieva would remain as the agency's managing director for another five-year term starting on Oct. 1, 2024. The announcement came as no surprise since Georgieva was the only candidate under consideration.

  • Friday, April 12th 2024 - 21:40 UTC

    Argentina: Inflation in March reaches 11%

    Friday's results somehow corroborated Economy Minister Luis Toto Caputo's forecast

    According to a report released Friday in Buenos Aires by Argentina's National Institute of Statistics and Census (Indec), the Consumer Price Index (CPI) in March in the South American country went up 11% for an interannual total of 287.9%. The new figure represented a 2.2% decrease from February but a 51.6% growth in the first quarter of 2024.

  • Friday, April 12th 2024 - 15:40 UTC

    European Central bank keeps high interest rates unchanged; US surprised by rising inflation in March

    European Central Bank held interest rates at a record high, although as usual signaling it could cut interest rates at its next meeting in June.

    In a week in which the United States was surprised by an increase in inflation further delaying prospects of a soon cut in the Federal Reserve's rate cut, the European Central Bank held interest rates at a record high, although as usual signaling it could cut interest rates at its next meeting in June.

  • Friday, April 12th 2024 - 15:30 UTC

    Latin America and Caribbean persistent low growth and stalled progress, World Bank report

    “We must act decisively to help Latin America and the Caribbean break away from this cycle,” said Carlos Felipe Jaramillo, WB Vice President for LAC

    Latin America and the Caribbean (LAC) has reached a critical juncture. While the region has made significant progress in economic stabilization over recent decades, growth has stalled, undermining progress. Urgent action is needed to reverse course. In a new report, “Competition: The Missing Ingredient for Growth?” the World Bank highlights potential areas for action, emphasizing that leveraging competition policies and institutions is key to any impactful growth strategy.

  • Thursday, April 11th 2024 - 10:13 UTC

    Key cooperation deal between the US and Uruguay signed

    “Uruguay is an ideal partner for the US in emerging technologies,” said Lago. Photo: Presidency of Uruguay

    Uruguay and the United States signed a Memorandum of Understanding (MOU) Wednesday in Montevideo, whereby the two countries will create a working group on new technologies to deepen government-private cooperation. The South American country was found to be “an ideal partner” for the administration of President Joseph Biden.

  • Thursday, April 11th 2024 - 10:04 UTC

    Presidents Lacalle Pou and Peña attend Conmebol dinner in Asunción

    Like-minded conservative leaders Peña and Lacalle Pou shared a series of activities in Asunción

    Presidents Santiago Peña of Paraguay and Luis Lacalle Pou of Uruguay Wednesday attended a dinner hosted by the South American Football Confederation (Conmebol) at the historic building of the Port of Asunción. Also participating in the event was Fédération Internationale de Football Association (FIFA) President Gianni Infantino.

  • Wednesday, April 10th 2024 - 11:06 UTC

    Another major Chinese construction and real estate developer ready to fall

    Like several other Chinese property developers, Shanghai-based Shimao defaulted on offshore bonds in 2022. Last month, it laid out detailed plans to restructure its debts.

    China Construction Bank (Asia), a state owned financial institution filed a petition in Hong Kong to wind up the Shamao Group, after the Chinese real estate and construction developer failed to repay loans worth HK$1.58bn (US$ 201.8m; £159.7m).