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MercoPress, en Español

Montevideo, May 20th 2025 - 04:12 UTC

Economy

  • Thursday, October 17th 2024 - 06:13 UTC

    Panama Canal posts significant setback in FY2024

    The number of crossing vessels was cut down from 38 to 22 on average between July 2023 and May 2024

    The Panama Canal Authority (ACP) reported this week a 29.3% drop in passing ships during Fiscal Year 2024 as a result of the severe drought affecting the interoceanic crossing. A total of 9,944 transits were recorded this year, a significant setback from 14,080 crossings in 2023. A fiscal year runs from October 1 to September 30 of the following year.

  • Monday, October 14th 2024 - 22:06 UTC

    Trio granted Economics Nobel Prize for delving into development asymmetries

    This year's winners came as no surprise within Economics circles

    Three researchers who delved into the asymmetries of how countries prosper differently were awarded the Economics Nobel Prize Monday, thus closing this year's round of announcements ahead of the Dec. 10 award ceremonies in Stockholm.

  • Monday, October 14th 2024 - 10:13 UTC

    IDB announces loans for Argentina

    A lasting transformation would hinge on the private sector creating jobs, Goldfajn explained

    Argentina's administration of President Javier Milei will be receiving loans worth US$ 3.8 billion from the Inter-American Development Bank (IDB), it was reported during the weekend. These funds will be allocated to various projects, energy subsidies, and social plans, it was explained.

  • Monday, October 14th 2024 - 08:15 UTC

    Argentina's BCRA launching collector's AR$ 25 coins

    The BCRA issued 2,500 pieces of this new commemorative coin, minted in 925 silver, with a face value of AR$ 25

    Argentina's Central Bank (BCRA) announced a new AR$25 coin as a part of a joint venture with Spain, Portugal, and other countries in the region to highlight each nation's cultural diversity.

  • Saturday, October 12th 2024 - 10:16 UTC

    IMF goes easier on heavily indebted countries such as Argentina

    “I'm pleased to announce that the Executive Board has reached a consensus on a reform of IMF charges and surcharges,” Georgieva stressed

    The International Monetary Fund (IMF) announced Friday a series of cuts on overcharges to countries heavily in debt, which, albeit moderate, could benefit Argentina among other nations. Such an initiative had been resisted in the past by Washington and other G7 nations but things have changed considerably at a global level.

  • Friday, October 11th 2024 - 10:19 UTC

    Hurricane Milton leaves at least 12 dead in Florida

    “It's going to take several billion dollars” to build back from Milton, Biden said

    At least 12 people have been confirmed dead Thursday in the U.S. state of Florida, where Hurricane Milton made landfall as a Category 3 storm with maximum sustained winds of 115 mph from the Gulf of Mexico into the Atlantic Ocean, leaving millions without power and causing severe damage. According to PowerOutage.us, 2.63 million homes were still without power in Florida Thursday night.

  • Friday, October 11th 2024 - 09:30 UTC

    Argentine inflation stands at 3.5% in September

    Thursday's figures represented a slowdown from August's 4.2%, the Indec said

    Argentina's National Institute of Statistics and Census (Indec) announced Thursday that September's Consumer Price Index (CPI)stood at 3.5% for a yoy total of 209%. So far in 2024, inflation reached 101.6%, with housing, utilities, and fuels accounting for the largest increases. Thursday's figures represented a slowdown from August's 4.2%. The Core CPI, which records inflation excluding seasonal and regulated prices, stood at 3.3%.

  • Thursday, October 10th 2024 - 10:03 UTC

    Italian Deputy PM pledges to help pull through EU-Mercosur FTA

    “Italy and Brazil will cooperate in every way because it is in the interest of our people,” Tajani said

    Italy's Deputy Prime Minister and top diplomat Antonio Tajani told a group of Brazilian businesspeople in Sao Paulo Wednesday that his country was facing “a great opportunity” to strengthen its economic and commercial presence in Latin America, particularly through the EU-Mercosur free trade agreement that is still pending ratification.

  • Wednesday, October 9th 2024 - 08:32 UTC

    Brazilian Senate gives nod to future BCB CEO

    Galípolo is Lula's choice to replace Roberto Campos Neto, who stems from the Jair Bolsonaro administration

    Brazil's Federal Senate Tuesday greenlighted by 66 votes to 5 the appointment of Gabriel Galípolo as the next Central Bank (BCB) CEO to succeed Roberto Campos Neto, who stems from former President Jair Bolsonaro's administration and whose term ends Dec. 31.

  • Monday, October 7th 2024 - 09:19 UTC

    Container freight from Asia/South America West coast to rise in November

    This increase of US$2,000 will apply to all shipments using 20-foot and 40-foot dry containers, including high cube containers and 40-foot non-operative reefers.

    German container line Hapag-Lloyd as of next November first will begin applying a General Rate Increase, GRI, on shipments from Asia to the West Coast of South America, Mexico, Central America, and the Caribbean.