Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, May 19th 2025 - 23:14 UTC

Economy

  • Tuesday, November 12th 2024 - 10:53 UTC

    Milei says Argentina “entering its best moment in the last 100 years”

    “We are already seeing the bubbles of the diver's fart,” the scholar Milei explained

    Argentine President Javier Milei insisted Monday that his country was “entering its best moment in the last 100 years,” despite what the rank and file may perceive amid soaring prices and dwindling wages. “I say to all private sector players: take advantage of getting on the progress train now because it is cheaper to buy,” added the head of state during a visit to the headquarters of the virtual wallet platform Ualá.

  • Tuesday, November 12th 2024 - 06:38 UTC

    Food insecurity feared in Bolivia after weeks-long road blockades

    “Without diesel, there is no food for 2025,” agricultural growers concurred

    Bolivia's Association of Oilseed and Wheat Producers (Anapo) President Fernando Romero said Monday that diesel fuel shortages seriously threatened food supply in the short run as well as production in the future. Romero told the Chinese news service Xinhua that hundreds of companies in eastern Bolivia were on the brink of bankruptcy and pointed out that only 20% of rice growers had started planting.

  • Sunday, November 10th 2024 - 15:23 UTC

    France lobbying among EU partners to veto trade agreement with Mercosur

    Minister Annie Genevard admitted Paris is trying to convince “a maximum number of countries”, to set up a veto system to impede the trade agreement EU/Mercosur

    French Agriculture minister, Annie Genevard has declared to her country’s media that Paris is trying to convince “maximum number of countries”, such as Belgium, Bulgaria, Austria, Ireland and “even maybe Italy” to set up a veto system to impede the signing of a trade agreement between the European Union and Mercosur, the South American trade group.

  • Saturday, November 9th 2024 - 10:43 UTC

    BCP President says inflation no longer a problem

    According to Carvallo, the challenge today is focused on two aspects: increasing productivity and reducing debt

    Paraguayan Central Bank (BCP) President Carlos Carvallo said Friday in Luque at the Expo Paraguay Brazil convention that inflation in his country was no longer a concern. He made those remarks during his appearance at a panel titled “Inflation, currency, and macroeconomic challenges, and the BCP's strategic vision” at the event held at the South American Football Confederation's (Conmebol) headquarters.

  • Friday, November 8th 2024 - 19:21 UTC

    US Federal Reserve cuts rate by 25 basis points, but future decisions to be conditioned by Trump and Republicans dominance

    Powell whose mandate ends in May 2026, said if Trump were to ask him to leave, he wouldn't go, and that such a move isn't permitted by law.

    The US Federal Reserve’s Open Market Committee cut interest rates by a quarter percentage point, on Thursday, the same week in which Donald Trump was swept in as elected president with a Legislative and Judicial branch packed with his conservative populists.

  • Friday, November 8th 2024 - 19:17 UTC

    Bank of England cut the key interest rate to 4.75%, but anticipates a more cautious approach to further trims

    BOE Governor Andrew Bailey said the bank sees inflation rising by 0.5 percentage points, to hit a high of around 2.75% in 2025 before falling back to its 2% target.

    The Bank of England in an almost unanimous decision cut interest rates by 25 basis points on Thursday, a boost relief for mortgage holders, but also raised its inflation forecast following on Labor’s government budget and global uncertainty, which most probably conditions future policy easing.

  • Thursday, November 7th 2024 - 10:25 UTC

    Brazil's Copom raises Selic rate to 11.25%

    The measure was expected after the US dollar began to rise against the local real

    The Monetary Policy Committee (Copom) of Brazil's Central Bank (BCB) Wednesday agreed unanimously to increase the economy's basic interest rate known as Selic by 0.5%age points to 11.25% per year, Agencia Brasil reported. The move was expected within financial circles given the recent rise in the exchange rate between the local real and the US dollar which provided for an inflationary context.

  • Thursday, November 7th 2024 - 10:13 UTC

    Argentina's beef exports hit new records

    Only 30% of Argentina's production was for domestic consumption

    Beef exports from Argentina between January and September 2024 totaled US$ 2.122 billion, thus reaching its highest performance in the last 57 years, according to a report from the Economy Ministry's Agriculture, Livestock, and Fisheries Secretariat released Wednesday in Buenos Aires. Sales abroad amounted to 699,987 tons, it was also explained.

  • Wednesday, November 6th 2024 - 19:37 UTC

    Slight increase in Uruguay wool exports, with a timid comeback of China, but overall outlook remains depressive

    SUL indicates that with three months left, in 2024, there seems to be a modest, very modest advancement of the market, which anyhow remains quite depressing.

    In the first ten months of this year, Uruguayan exports of ovine goods reached US$ 158.2 million which is 7% below the same period last year, according to the latest figures from the Uruguayan Wool Secretariat, SUL. This is a slight improvement from the two previous months when exports were 10% and 13%, less than the same period a year ago.

  • Friday, November 1st 2024 - 21:14 UTC

    Argentina's Central Bank lowers basic interest rate

    The benchmark interest rate was standing at 133% when Milei took office

    Given the significant fall in Argentina's inflation rate, the Central Bank (BCRA) announced Friday that it was lowering the basic interest rate from 40% to 35% in a move to “boost private credit.”