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MercoPress, en Español

Montevideo, May 19th 2025 - 13:32 UTC

Economy

  • Saturday, January 4th 2025 - 11:06 UTC

    Argentina: Footwear manufacturing plant shutdown represents 360 layoffs

    In 2024, the Brazilian Grupo Dass manufactured 7.8 million pairs in Argentina

    Argentina's chainsaw policies with a US dollar so low that everything is expensive nationwide are beginning to take its toll on the local industry: The Grupo Dass sports footwear manufacturing plant in Coronel Suarez, in the province of Buenos Aires, has been closed down - it used to manufacture articles for the brands Adidas, Nike, and Fila.

  • Saturday, January 4th 2025 - 10:27 UTC

    Paraguay's Economy Minister praised by leading world publication

    Fernández Valdovinos was also praised for his work as President of the Central Bank of Paraguay under former President Horacio Cartes

    Paraguay's Economy Minister Carlos Fernández Valdovinos was singled out by the London-based The Banker publication for issuing bonds in guaraníes and the South American country's handling of the corruption issues that pop up. The outlet also recognized the finance ministers of France, Vietnam, Qatar, Morocco, and Chile for their management of the economy, growth policies, crisis response, and leadership skills.

  • Saturday, January 4th 2025 - 00:32 UTC

    Third-largest ever outflow of dollars recorded in Brazil

    Sidney predicted that the Selic basic interest rate would rise to 15% until June to then go downwards

    A total of US$ 15.918 billion fled Brazil in 2024, which represented the third-largest annual leakage ever behind consecutive negative balances in 2019 (US$ 44.768 billion) and 2020 (US$ 27.923 billion), the Central Bank (BCB) reported this week. Last year's financial flow was negative by US$84.396 billion after outflows (US$ 674.385 billion) outpaced inflows (US$ 589.989 billion).

  • Friday, January 3rd 2025 - 10:33 UTC

    Uruguayan exports of goods reached US$ 12.845 billion last year

    According to Uruguay XXI, 2025 will be a good year for the agricultural sector in terms of production

    A study released in Montevideo Thursday by the Uruguay XXI Institute showed that the South American country's exports of goods reached U$S 12,845 million in 2024, which represented a 13% increase from 2023, driven particularly by cellulose exports and the recovery of soybean shipments after the drought the year before.

  • Thursday, January 2nd 2025 - 10:50 UTC

    Bitter year's ending for Argentines earning more dollars to buy less

    Milei insists that earnings averaging US$ are an improvement regardless of their actual purchasing power

    Last year might have meant a battle won against inflation by the Libertarian administration of President Javier Milei. Still, it also represented a significant wage loss for most Argentines if not the disappearance of their livelihoods altogether as it happened to temporary State workers whose contracts were not renewed as customary under previous governments.

  • Thursday, January 2nd 2025 - 07:29 UTC

    Chinese meat industry and farmers complaining about surging Mercosur imports

    Safeguard measures taken by the world’s biggest beef buyer can be expected to hurt top exporters and trade partners of China, Mercosur block partners, and Australia.

    Chinese farmers and meat industry associations are complaining about the surge in foreign beef imports and the Ministry of Commerce has promised an investigation into the situation, according to Beijing government sources.

  • Tuesday, December 31st 2024 - 10:55 UTC

    La Niña projected to take its toll in the Southern Cone

    La Niña is feared to cause considerable economic losses, mostly regarding agricultural outputs due to droughts but also considerable damage from excessive flooding. Photo: EFE/ Isaac Fontana

    Meteorologists foresee that the La Niña weather phenomenon will not go unnoticed in the Southern Cone next year after the Brazilian agency Metsul reported signs of unusual activity in the Pacific Ocean. The main impact will be reflected in mercurial temperatures, MetSul's warning noted.

  • Tuesday, December 31st 2024 - 10:30 UTC

    After hectic month, Paraguay's yearly inflation barely above 2023's

    The BCP aims to reach a 3.5% inflation by 2026

    Paraguay's Consumer Price Index (CPI) grew 0.7% this month, which represented a setback from 0.3% in the same month last year. Nevertheless, Asunción confirmed closing 2024 with a 3.8% inflation, barely over 2023's 3.7%, according to the Central Bank (BCP), and therefore within the target range of 4%, it was explained Monday. On a brighter note, core inflation stood at 0.3% in December for a yearly variation of 3.4%, which meant progress from the 3.6% registered in 2023.

  • Monday, December 30th 2024 - 23:13 UTC

    Brazil's financial markets adjust 2025 projections for the worse

    The BCB's Focus Bulletin maintained its forecast for the Selic basic interest rate of 14.75% per annum in 2025

    Monday's issue of Brazil's Central Bank's (BCB) Focus Bulletin twitched last week's 2025 slightly for the worse, with higher inflation and a smaller Gross Domestic Product (GDP), Agencia Brasil reported. The study showed that the Broad Consumer Price Index (IPCA) should end 2025 at 4.96% from the 4.86% forecast last week. It was the 11th adjustment to the inflation projection and the ninth to the exchange rate between the local real and the US dollar.

  • Monday, December 30th 2024 - 10:58 UTC

    Hard times ahead for Lula and Brazilian Real, the most devalued currency in 2024

    Lula da Silva recovering from head injuries and surgery

    US dollar expectations in the Brazilian market are beating forecasts having reached R$ 6.30 in December, (from 4.85 in January 2024) making the Brazilian Real one of the largest currencies of emerging countries, as the most devalued during 2024, despite the Central Bank pumping some US$ 17 billion to the market hoping to contain the slide.