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MercoPress, en Español

Montevideo, May 19th 2025 - 18:26 UTC

Economy

  • Friday, December 20th 2024 - 10:17 UTC

    Bank of England leaves rate unchanged at 4.75%, but inflation is increasing with a no economic growth in 2024

    Three members of the Bank’s Monetary Policy Committee voted for a rate reduction, while six insisted in keeping them on hold.

    The Bank of England on Thursday left interest rates unchanged at 4.75%, despite an inflation rate that reached an eight-month high, pushed by services and wage increases. However three members of the Bank’s Monetary Policy Committee voted for a rate reduction, while six insisted in keeping them on hold.

  • Thursday, December 19th 2024 - 22:03 UTC

    IMF admits new loan to Argentina under consideration

    “A recovery in economic activity and real wages is now firmly underway” in Argentina, Kozack said

    International Monetary Fund (IMF) Spokeswoman Julie Kozack admitted Thursday that “talks are underway” to grant Argentina a new loan. The South American country is reportedly eligible for such a disbursement given the impressive achievements of President Javier Milei's “chainsaw” adjustment policies. The program currently in force ends this year and Argentina still owes around US$ 1 billion.

  • Thursday, December 19th 2024 - 09:11 UTC

    Uruguay: Unemployment falls in November

    Underemployment and informal work will pose a challenge for President-elect Orsi

    Unemployment in Uruguay fell to 7.2% of the Economically Active Population (EAP) last month, which represented a slight improvement from October’s 7.3%, according to the latest report from Montevideo's National Statistics Institute (INE) this week. It was the lowest figure since December 2021.

  • Wednesday, December 18th 2024 - 22:17 UTC

    US dollar soars in Brazil amid fiscal uncertainty

    Haddad hopes the US dollar will settle down, eventually

    Amid uncertainty stemming from President Luiz Inácio Lula da Silva's planned measures, the US dollar soared Wednesday against the Brazilian real, hitting a new record of R$ 6.26 = US$ 1 while the stock market fell above 3%, also driven by the 0.25 percentage point interests cut by the US Federal Reserve (Fed).

  • Wednesday, December 18th 2024 - 10:59 UTC

    EU/Mercosur trade deal: How detrimental for Mercosur and how beneficial for EU farmers?

    EC President Ursula von del Leyen with Mercosur leaders, Argentina’s Javier Milei; Uruguay’s Luis Lacalle Pou; Lula da Silva, Brazil and Paraguay’s Santiago Peña. 

    A few days after European Commission President Ursula von del Leyen signed a long-pending trade agreement with four South American nations, French farmers were back on the streets dumping manure. This time they parked the tractors near the tunnel in Calais that goes through the English Channel, according to a report from German political and business analyst Uwe Hessler.

  • Wednesday, December 18th 2024 - 10:22 UTC

    Brazil: Selic rate expected to keep growing next year

    Yoy inflation reached 4.87%, slightly above the 3% (+/- 1.5%) target

    Brazil's Central Bank's (BCB) Monetary Policy Committee (Copom) said Tuesday in a document that further hikes to the basic interest rate (Selic) were not to be ruled out next year given the rise of the US dollar against the Brazilian real, which crossed the BR$ 6 / US$ 1 barrier after the fiscal package announced by the Government of President Luiz Inácio Lula da Silva in recent days negatively impacted the market.

  • Tuesday, December 17th 2024 - 10:20 UTC

    Moody's downgrades politically shaken France's credit rating

    The Chairman of the centrist Democratic Movement (MoDem) became Macron's fourth prime minister this year

    A politically shaken France has been downgraded by Moody's Investors Service from “Aa2” to “Aa3” and the country's long-term outlook went from “stable” to “negative” amid the ongoing “fragmentation” following the appointment of Prime Minister François Bayrou.

  • Monday, December 16th 2024 - 10:30 UTC

    Milei: “Taxes are theft”

    Milei insisted Meloni was a very courageous woman

    Argentine President Javier Milei said this weekend in an interview with the Italian TV Quarta Repubblica to be aired Monday that taxes “are theft.” The South American leader also insisted that “public spending cuts are not an unpopular measure.” Milei spent the weekend in Rome where he had a meeting with Prime Minister Georgia Meloni and participated in other business and political engagements.

  • Monday, December 16th 2024 - 07:29 UTC

    Paraguay soybean production reaches 11 million tons in 2023/24

    The total crop works out at an average yield of 3.000 kilos per hectare, according to the Paraguayan Chamber of Grain and Oilseed Exporters and Traders, Capeco.

    The 3.65 million hectares of soybeans planted in Paraguay, produced 11 million tons of the oil bean during the 2023/24 harvest season generating some US$ 4 billion for the landlocked country economy, which is among the top producers and exporters in the world.

  • Monday, December 16th 2024 - 07:00 UTC

    Two tough low growth years ahead for Germany, indicates the Bundesbank

    “The German economy is not only battling with persistent economic headwinds, but also with structural problems,” explained Bundesbank President Joachim Nagel (Pic FT)

    The German central bank, Bundesbank, drastically trimmed the economic forecast for Germany in the next two years, 2025 and 2026, given structural issues, including German industry facing significant economic obstacles and with grim prospects for the country’s exports.