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MercoPress, en Español

Montevideo, May 19th 2025 - 18:20 UTC

Economy

  • Friday, December 13th 2024 - 10:17 UTC

    Milei off to Italy once again this year

    It will be Milei's sixth official encounter with Meloni

    Argentine President Javier Milei Thursday resumed his mileage accruing spree after departing for Rome to meet with Italy's Prime Minister Giorgia Meloni, among other engagements.

  • Thursday, December 12th 2024 - 09:23 UTC

    Argentina's Indec says inflation in November stood at 2.4%

    “Inflation in Argentina RIP,” said Presidential Spokesman Manuel Adorni

    Argentina's Consumer Price Index (CPI) went up 2.4% in November for a 166% year-on-year, the National Institute of Statistics and Census (Indec) announced Wednesday in Buenos Aires. It was the lowest figure since July 2020 when it reached 1.9%. The Libertarian Government of President Javier Milei welcomed the news: “Inflation in Argentina RIP,” said Presidential Spokesman Manuel Adorni.

  • Thursday, December 12th 2024 - 08:13 UTC

    Brazil hits new record in coffee exports

    Arabica remained the type of coffee topping shipments

    South America's largest country exported an all-time high amount of 46.3 million bags of coffee last month, Agencia Brasil reported citing data from the Brazilian Coffee Exporters Council (Cecafé) made available this week.

  • Wednesday, December 11th 2024 - 10:55 UTC

    Milei reviews his first year in office

    Milei said his reform of the State is much stronger than the one under Carlos Menem in the 1990s

    Argentine President Javier Milei reviewed his first year in office, during which he did manage to slow down inflation, albeit at a cost. “I want to thank the ordinary Argentines who were treated as second-class citizens for decades,” he said during his broadcast message.

  • Wednesday, December 11th 2024 - 10:46 UTC

    Brazil's inflation slows down, IBGE announces

    Over the past 12 months, official inflation reached 4.87%, exceeding the government's target, the IBGE warned

    The Broad National Consumer Price Index (IPCA) in South America's largest country stood at 0.39% in November, according to the Institute of Geography and Statistics (IBGE) survey released Tuesday, Agencia Brasil reported. The new figures represented a slowdown from October's 0.56%, which “does not indicate a drop in prices but rather a slower pace of increases” as food items kept driving the IPCA upwards.

  • Wednesday, December 11th 2024 - 09:01 UTC

    November FAO Food Price Index, highest since April 2023, boosted by dairy and vegetable oils

    Additionally, the weakening of the Brazilian Real against the United States dollar and lower international crude oil prices contributed to the decline in world sugar prices

    The FAO Food Price Index, FFPI, averaged 127.5 points in November 2024, up 0.5 percent from the October level and reaching its highest value since April 2023. The increase was driven by higher price quotations for dairy products and vegetable oils, which slightly outweighed declines in the meat, cereals, and sugar quotations. Compared to historical levels, the FFPI in November was 5.7 percent higher than its corresponding value a year ago but remained 20.4 percent below its peak of 160.2 points reached in March 2022.

  • Saturday, December 7th 2024 - 10:59 UTC

    FTA to represent 5.1% increase in Brazil's commerce with EU

    The results will be seen by 2044, it was explained

    A Brazilian expert foresees that the Free Trade Agreement (FTA) between the Southern Common Market (Mercosur) and the European Union (EU) will represent a 5.1% increase in commerce with the bloc that is already South America's largest country's second-largest partner, behind China, Agencia Brasil reported. These projections would mean a 0.34% rise in the Gross Domestic Product (GDP), the sum of goods and services produced in the country.

  • Friday, December 6th 2024 - 23:07 UTC

    Mercosur-EU FTA signed at last

    “Mercosur will bring significant benefits to consumers and businesses on both sides,” Von der Leyen said

    The South American Common Market (Mercosur) and the European Union announced Friday in Montevideo the final signing of the Free Trade Agreement (FTA) between both blocs, thus creating the largest and most populated commerce zone worldwide. The understanding was reached after 25 years of negotiations and despite France's reluctance.

  • Friday, December 6th 2024 - 10:55 UTC

    Mercosur-EU FTA ratification imminent

    The imminent announcement is expected to happen during a press conference on Friday morning

    Momentum is building up in Montevideo as the presence of European Commission President Ursula von der Leyen seems to herald the imminent signing of the Free Trade Agreement (FTA) with the Southern Common Market (Mercosur) as Brussels needs to halt China's commercial expansion in the region while Donald Trump's return to the White House looms over.

  • Friday, December 6th 2024 - 10:23 UTC

    Argentina's BCRA lowers basic interest rate again

    The previous decrease had been announced on Nov. 1 when the TNA was lowered from 40 to 35%

    Argentina's Central Bank (BCRA) announced Thursday a reduction in the basic interest rate (Nominal Annual Rate - TNA), from 35% to 32% while one for swaps will go down from 40% to 36%. The measure is effective as of Friday and impacts all fixed-term deposits.