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MercoPress, en Español

Montevideo, May 19th 2025 - 08:18 UTC

Economy

  • Wednesday, February 12th 2025 - 21:26 UTC

    January FAO Food Price Index down 1,6% from December but 6,2% higher year ago

    The FAO Vegetable Oil Price Index decreased by 5.6% from the previous month, reversing a recent increase, though it remained 24.9% higher than a year ago

    The FAO Food Price Index, the benchmark for world food commodity prices, declined in January, averaging 124.9 points during the month, down 1.6% from its December level. The drop was driven by significant decreases in the international quotations for vegetable oils and sugar, FAO reported.

  • Wednesday, February 12th 2025 - 10:55 UTC

    Brazil’s Finance Minister: Trump's tariffs damage global trade

    Haddad will discuss the matter deeper with representatives of Brazil's steel and aluminum sectors when he returns from his Feb.14-20 Middle East tour

    Brazil's Finance Minister Fernando Haddad stressed Tuesday that US President Donald Trump's decision to impose 25% tariffs on steel and aluminum imports was “counterproductive” to the global economy. “The global economy loses with this, with this retraction, with this de-globalization that is happening,” he added.

  • Wednesday, February 12th 2025 - 08:54 UTC

    US dollar not lagging, says Caputo

    “With Javier Milei we have the best relationship that an Economy Minister has ever had with a President,” Caputo said

    Argentina's Economy Minister Luis 'Toto' Caputo insisted Tuesday that the US dollar was not lagging against the peso and also mentioned that a new deal with the Monetary Fund (IMF) was just details away from being finalized. He made those remarks and negative results hit the local stock markets, and the country-risk index regained its upward trend following President Javier Milei's statements that a devaluation was not in sight and that the government did not intend to modify the current pensions law.

  • Tuesday, February 11th 2025 - 19:52 UTC

    Brazil: January's IPCA lowest since 1994

    The so-called Itaipu Bonus on electricity bills played a key role in achieving these figures, the IBGE explained

    Inflation last month in South America's largest country reached 0.16%, January's lowest since 1994, the Brazilian Institute of Geography and Statistics (IBGE) announced Tuesday. The agency also noted that the main cause for such an unprecedented feat after the introduction of the real was the so-called Itaipu Bonus, a special discount on electricity bills benefitting some 78 million consumers. The Real Plan was implemented in July of that year.

  • Tuesday, February 11th 2025 - 19:26 UTC

    Taiwan largest market for Paraguayan pork exports

    Overall, Paraguayan pork shipments grew both in volume and revenue over the past year

    Taipei's Embassy in Asunción confirmed this week that Paraguay's pork exports to Taiwan grew by 108% last year, thus grabbing an 87% share of the South American country's shipments of the product, yielding revenues around US$ 29 million.

  • Monday, February 10th 2025 - 13:31 UTC

    Europe prepares retaliatory measures to Trump's tariffs

    Von der Leyen suggested a defense alternative to NATO was needed

    US President Donald Trump's announcement that he planned to impose tariffs on European products to even up the trade scale “would be illegal and economically counterproductive,” the European Commission (EC) warned in a statement. It would also affect international trade and production chains, it went on.

  • Sunday, February 9th 2025 - 19:38 UTC

    Brazil’s interest rate raised to 13.25% and further increases forecasted

    Copom, lifted the Selic policy rate to 13.25% in a unanimous decision, the first under new central bank Chief Gabriel Galipolo,appointed by President Lula da Silva

    Brazil's central bank raised its benchmark interest rate, Selic, by 100 basis points for the second straight meeting last Wednesday and anticipated another similar hike in March, concerned about mounting inflationary pressures.

  • Sunday, February 9th 2025 - 19:28 UTC

    BoE chair fears “fragmentation of world economy” if Trump abandons IMF and World Bank

    “Project 2025” blueprint for Trump's presidency, was authored by figures who are now key White House staff, recommended withdrawal from both institutions

    The Governor of the Bank of England Andres Bailey has urged continued US support for two major global economic institutions. According to a piece published by BBC, Mr. Bailey said he was “following extremely closely” whether the Trump administration would change its support for the International Monetary Fund (IMF) and the World Bank.

  • Sunday, February 9th 2025 - 19:04 UTC

    BoE cuts rate to 4.50% but slashed UK growth to 0.75% and ups inflation estimate to 3.5%

    Governor Andrew Bailey mentioned on his press conference on the influence of natural gas prices, which have risen in response to a spell of colder weather

    The Bank of England last Thursday cut interest rates 25 percentage points to 4,50%, but at the same time slashed its growth forecast for the year and warned the near-term outlook for the economy had become complicated.

  • Saturday, February 8th 2025 - 09:46 UTC

    Brazil’s industry posts 3.1% output increase in 2024

    The annual increase was achieved despite three straight months of decline, IBGE's report showed

    According to a report released by Brazil's Institute of Geography and Statistics (IBGE) this week, South America's largest country's industrial production closed out 2024 with a 3.1% from 2023's figures. These results, driven by rising employment and income, were the third-highest annually in the last 15 years.