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MercoPress, en Español

Montevideo, May 20th 2025 - 11:27 UTC

Economy

  • Saturday, September 7th 2024 - 10:55 UTC

    Paraguay and Argentina reach understanding on Waterway tolls

    A mechanism was also established for the reimbursements of fees paid in excess since February last year, it was explained

    The governments of Paraguay and Argentina have reached an understanding regarding the collection of tolls on the latter's part for the use of the Paraguay-Paraná Waterway, it was announced.

  • Thursday, September 5th 2024 - 10:45 UTC

    Argentina, only country in the region with a contracting economy

    More and more Argentines keep falling daily into poverty or indigence

    Less than a year into the government of Libertarian President Javier Milei, Argentina will be the only country in the region with negative growth in 2024, according to projections by the World Bank, the International Monetary Fund (IMF), ECLAC, and BBVA, which forecast a 3.2% contraction of Gross Domestic Product (GDP) in South America's second-largest economy.

  • Thursday, September 5th 2024 - 09:59 UTC

    Brazilian police and IDB sign cooperation agreement

    Rodrigues highlighted the importance of cooperation among police forces in the Americas

    Brazil's Federal Police Director General Andrei Rodrigues and the Inter-American Development Bank's (IDB) representative in South America's largest country Morgan Doyle Wednesday signed a memorandum of understanding to join forces in the fight against organized crime as well as actions against the environment in the Amazon Basin. The ceremony took place during the XIV Ordinary Ameripol Summit in Foz do Iguaçu, bordering Paraguay and Argentina.

  • Thursday, September 5th 2024 - 08:05 UTC

    Brazil posts GDP growth above expectations in 2Q of 2024

    The IBGE also reported a 1.4% increase in exports of goods and services in the second quarter of 2024

    According to a report from the Brazilian Institute of Geography and Statistics (IBGE) released this week, the Gross Domestic Product (GDP) in South America's largest country grew 1.4% in the second quarter of 2024 from the year's first trimester, far exceeding expectations, Agencia Brasil reported. The country’s total wealth amounts to R$ 2.9 trillion (nearly US$ 514 billion). The GDP represents the sum of all wealth produced in the country.

  • Tuesday, September 3rd 2024 - 22:30 UTC

    Downspout affects Paraguayan foreign trade freight rates

    In the third week of August, the Paraguay River was one centimeter above its historical minimum

    Paraguayan import/export operations, which are heavily dependent on barge transport through the Paraná and Paraguay Rivers, saw costs go up 29.2% interannually in July as lower water levels limited both navigation and the amount of cargo each vessel can carry. In the third week of August, the Paraguay River was one centimeter above its historical minimum.

  • Monday, September 2nd 2024 - 11:40 UTC

    Milei vetoes pensions increase but faces Congress' reprisal

    Milei cited the Senate's Rulebook requirement that every bill includes in its foundations its source of financing

    Argentine President Javier Milei vetoed in its entirety Bill 27.756 providing for an increase in the wages of senior citizens and pensioners. The measure became effective after appearing in Monday's issue of the Official Gazette.

  • Monday, September 2nd 2024 - 11:38 UTC

    Paraguayan businesses concerned as dollar keeps soaring

    “We fear that this situation will affect the Christmas season,” Caje argued

    Given the seemingly unstoppable soar of the US dollar against the local guaraní during a whole week, the Association of Importers and Traders of Paraguay (Asimcopar) said it feared the current trend might hit year-ending sales, which largely feature imported items.

  • Saturday, August 31st 2024 - 10:22 UTC

    Brazil: Lula picks Galípolo for BCB CEO post

    The nominee still needs the Senate's nod

    Brazilian President Luiz Inácio Lula da Silva picked Central Bank Monetary Policy Director Gabriel Galípolo to replace Roberto Campos Neto as CEO. The outgoing chief executive had been appointed by Lula's predecessor Jair Bolsonaro and it was no secret that he would not remain in office at the end of his term. To be confirmed for the post, Galípolo still needs the Senate's nod.

  • Friday, August 30th 2024 - 09:50 UTC

    Argentina makes imports easier to tackle inflation

    “The reduction of the PAIS Tax will imply a reduction of prices in September,” Caputo pointed out

    On Thursday, Argentina's Economy Ministry announced that it would suppress bureaucratic hindrances to importing key industry inputs such as steel, aluminum, and construction materials to “encourage competition and lower costs.” The measure also comes with a reduction in PAIS tax on purchases abroad to further tackle inflation. Representatives of the local steel industry expressed their objections and denounced that relevant safety measures were being disregarded.

  • Wednesday, August 28th 2024 - 10:55 UTC

    Milei announces documentary about his path to Casa Rosada

    The six-episode production will be broadcast through X

    Argentine President Javier Milei Tuesday launched a film series on his fast political career to be made available through the social media platform X. The docuseries still has no premiere date and will be directed by Casa Rosada's regisseur Santiago Oría. The production will be titled “From Zero to President. The Phenomenon that Captivates the World.”