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MercoPress, en Español

Montevideo, May 19th 2025 - 02:46 UTC

Economy

  • Thursday, March 13th 2025 - 10:40 UTC

    Trump's 25% tariffs: Lula's gov't favors negotiation over retaliation

    Lula's orders were to negotiate, Haddad explained

    The Brazilian government criticized US President Donald Trump's decision to impose a 25% tariff on steel and aluminum imports. The protectionist move is foreseen to cause the South American country around US$ 1.5 billion loss in exports, primarily affecting semi-finished products. Despite its potential impact on the steel sector, minimal effects on Brazil's GDP and total exports are projected. The Government of President Luiz Inácio Lula da Silva favors negotiation over retaliation.

  • Thursday, March 13th 2025 - 08:53 UTC

    Major US airlines cutting back services amid consumer retreat

    Major crashes have diminished people's confidence in air travel, resulting in economic losses

    Delta Air Lines and United Airlines have announced plans to reduce capacity due to overbuilt summer schedules and other challenges. Delta President Glen Hauenstein stated at a JP Morgan investor conference that the airline will scale back its summer capacity, with specifics to be revealed in its March 22 schedule. United Airlines CEO Scott Kirby said that the airline will retire 21 aircraft early, cut capacity in markets with high government traffic, particularly Canadian destinations, and reduce redeye flights. He also noted that these cuts would primarily occur in unprofitable regions where United is not the leading carrier.

  • Tuesday, March 11th 2025 - 10:05 UTC

    Opposition lawmakers file criminal case against Milei over IMF loan decree

    Milei's DNU is in violation, in the first place, of constitutional clauses, lawmakers such as Victoria Tolosa Paz argued

    A group of opposition lawmakers filed a criminal complaint against Argentine President Javier Milei for signing an Emergency Decree (DNU) to enable a new ten-year agreement with the International Monetary Fund (IMF) aimed at canceling non-transferable Treasury bills held by the Central Bank (BCRA). The decree bypassed the traditional legislative process of sending a bill to Congress, which Economy Minister Luis Toto Caputo said was necessary given the urgent need for IMF support.

  • Tuesday, March 11th 2025 - 09:51 UTC

    Brazil’s trade suffering the impacts of lower prices for commodity exports and rise in imports

    The February trade deficit was driven by a decline in exports and a sharp rise in imports, mainly due to a US$ 2.7 billion oil platform purchases.

    Brazil’s trade balance during February experienced a monthly deficit of US$ 323.7 million, the first since January 2022, (US$ 59,1 million). This compares with a trade surplus of US$ 5.13 billion in the same month a year ago. However despite the negative result, Brazil maintained a trade surplus of US$1.9 billion for the first two months of the year, according to Valor Economico, the leading financial media of South America’s leading economy.

  • Monday, March 10th 2025 - 10:58 UTC

    CFK lambasts Milei for deal with IMF

    The devaluation of the Argentine peso will be before or after the October mid-term elections, CFK wondered

    Former Argentine President Cristina Fernández de Kirchner (CFK) was heavily critical of the incumbent Javier Milei's intentions to borrow from the International Monetary Fund (IMF) to keep inflation at bay. She argued that Milei's reliance on the Austrian School of economics has led the Libertarian administration to the current situation and that the solutions intended were harmful to Argentina's interests.

  • Monday, March 10th 2025 - 10:45 UTC

    Trump's sanctions cut off all comunication lines, Maduro claims

    Maduro takes on Western powers as a common threat to build up unity around him

    Venezuelan President Nicolás Maduro criticized US President Donald Trump's decision to revoke Chevron's license to operate in the South American country, claiming it disrupted communication channels and hindered the repatriation of irregular migrants.

  • Monday, March 10th 2025 - 09:08 UTC

    IMF praises Guyana's environmental initiatives

    The IMF commended Guyana’s multifaceted approach to sustainable development

    The International Monetary Fund (IMF) has praised Guyana for its pioneering climate policies and efforts to enhance its energy matrix, promote sustainable growth, and foster economic diversification. The global credit agency highlighted the South American country's Climate Policies and Sustainable Development, Energy Transition, Economic Diversification and Workforce Development, and Inclusive Growth and Investment.

  • Saturday, March 8th 2025 - 10:36 UTC

    Car-making blooming in Argentina

    If local governments lowered their taxes, carmaking companies would have fewer costs, thus boosting the industry, Zuppi argued

    Argentina's automotive sector saw significant growth last month, with production reaching 42,419 units, a 41.1% increase from January and 13.1% higher than February 2024, according to a report released Friday by the Association of Automotive Manufacturers (ADEFA). The document also showed that exports rose to 22,496 vehicles, up 102.1% from January but down 4.6% compared to February 2024. In addition, Wholesale sales to dealers also surged, totaling 45,617 units, a 33.8% increase from January and 37.3% higher than the previous year.

  • Friday, March 7th 2025 - 10:53 UTC

    Argentina to okay IMF loan through a presidential decree

    The IMF said congressional approval was not necessary but would nevertheless speed the Board's nod

    Argentine President Javier Milei plans to issue an Emergency Decree (DNU) to approve the new loan to be agreed upon with the International Monetary Fund (IMF), the Casa Rosada announced Thursday. As mandated by law, each DNU needs congressional approval to not be stricken. The new deal seeks to cancel National Treasury debt to the Central Bank, reducing total public debt and strengthening the Central Bank's balance sheet and subsequently lifting the so-called exchange stocks.

  • Friday, March 7th 2025 - 10:48 UTC

    Trump extends tariffs pause to Canada

    ”It’s an important step, but we’re not at the end of the road,” Canadian Finance Minister Dominic LeBlanc said

    US President Donald Trump extended to Canada a waiver on the 25% tariffs he had given Mexico earlier Thursday until April 2, 2025. The Republican leader signed an executive order exempting goods compliant with the USMCA trade agreement and reducing the tariff on Canadian potash - which is used in fertilizer - to 10%. This follows his imposition of the tariffs, citing concerns over fentanyl trafficking and irregular migration.