Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, May 21st 2024 - 22:10 UTC

Economy

  • Monday, May 13th 2024 - 20:45 UTC

    Argentina passes IMF test with flying colors, will get US$ 800mn

    The IMF thanked Caputo and Bausili for their strong commitment to restoring economic stability

    After passing the eighth review of its debt refinancing program with the International Monetary Fund (IMF), Argentina is expected to receive a US$ 800 billion disbursement in the coming weeks, it was announced Monday. However, the transaction still needs to be approved by the IMF Board of Directors.

    Add your comment!
  • Monday, May 13th 2024 - 20:09 UTC

    Paraguayan beef granted entry into Canadian market

    It took Paraguay's producers almost three years and a half of learning and negotiating to reach this goal

    Canada's Food Inspection Agency (CFIA) greenlighted the entry of Paraguayan meat into their market with nine packing plants already authorized to start shipments. Paraguayan President Santiago Peña celebrated the good news with postings on social media. “I congratulate all the institutions and sectors involved for this important achievement,” he wrote.

    Add your comment!
  • Monday, May 13th 2024 - 19:38 UTC

    Brazil's Central Bank ups expansion forecast for 2024 to 2.09%

    The 2024 projection is within the inflation target range set by the BCB's National Monetary Council (CMN) of 3% (+- 1.5 percentage points)

    According to the latest issue of the Focus bulletin released Monday by Brazil's Central Bank (BCB), the economy in South America's largest country will grow by 2.09% this year, which represented an improvement from the previous 2.05% forecast, Agencia Brasil reported. The study also foresaw a yearly inflation of 3.76%.

    Add your comment!
  • Monday, May 13th 2024 - 10:49 UTC

    Massive aid promised to Rio Grande do Sul to overcome floods of biblical proportions

    IDB president Goldfajn has anticipated a US$ 1 billion package

    The Inter American Development Bank, IDB, has announced a package of emergency measures, plus humanitarian aid and special credits for rebuilding infrastructure in the Brazilian state of Rio Grande do Sul currently suffering from the worst floods in a century, with hundreds dead and disappeared, and over a million of the eleven million population forcibly displaced.

    Add your comment!
  • Saturday, May 11th 2024 - 10:43 UTC

    Wages trail inflation in Argentina under Milei

    Wages trail inflation in Argentina under Milei

    Inflation outpaced salaries in March by 11% to 10.3%, according to a report by Argentina's National Institute of Statistics and Censuses (Indec) released Friday in Buenos Aires. In yoy terms, the Wage Index increased by 200.8% on average (231.7% in the registered private sector, 183.7% in the public sector, and 129.2% in the informal private sector) and inflation was 287.9%, the survey showed. Hence, President Javier Milei's perception that salaries were recovering turned out inaccurate.

  • Friday, May 10th 2024 - 10:46 UTC

    Bank of England keeps rate at 5,25%; March inflation 3,2%, but services remain high, 6%

    Twelve-month CPI inflation fell to 3.2% in March from 3.4% in February. CPI inflation is expected to return to close to the 2% target in the near term

    The Bank of England’s Monetary Policy Committee (MPC) at its meeting ending on 8 May 2024, voted by a majority of 7–2 to maintain Bank Rate at 5.25%. Two members preferred to reduce Bank Rate by 0.25 percentage points, to 5%.

  • Thursday, May 9th 2024 - 23:31 UTC

    Brazil's Central Bank lowers Selic rate once again

    There was no indication as to what may happen in the next BCB board meeting

    Brazil's Central Bank (BCB) lowered once again the South American country's Selic benchmark interest rate to 10.5% per year amid a recent rise in the quotation of the US dollar, Agencia Brasil reported.

  • Thursday, May 9th 2024 - 21:43 UTC

    April FAO food prices index slightly higher, vegetable oils and cereals climbing

    Maize export prices increased, influenced by a robust import demand amidst mounting logistical disruptions as a result of infrastructure damages in Ukraine and concerns about Brazil's production

    The benchmark for world food commodity prices edged higher in April, as higher prices of meat and modest upticks for vegetable oils and cereals outweighed decreases in sugar and dairy product prices, the Food and Agriculture Organization of the United Nations (FAO) reported.

  • Thursday, May 9th 2024 - 10:23 UTC

    Paraguayan exports grow 15% in April

    Shipments to the Americas accounted for most of Paraguay's sales abroad last month

    Paraguay's Export Single Window Consortium (Convue) confirmed this week that shipments in the first four months of 2024 reached US$ 2,790 million, representing a US$ 380 million yoy increase as per the Single Export Window System (DGVUE), under the Ministry of Industry and Commerce, based on certificates of origin.

  • Tuesday, May 7th 2024 - 19:43 UTC

    FMI foresees rebound in Uruguay's economy

    According to the IMF, “continued vigilance of monetary policy is crucial”

    The Washington-based International Monetary Fund (IMF) released a report this week forecasting a “strong rebound” in Uruguay's economy this year. Driven by a surge in agricultural exports amid “balanced” macroeconomic risks, a 3.7% growth has been projected.