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MercoPress, en Español

Montevideo, May 20th 2025 - 11:29 UTC

Economy

  • Wednesday, August 28th 2024 - 09:36 UTC

    BCU's new VP insists the peso/dollar exchange rate is ruled by supply and demand

    “The Central Bank's goal is to control inflation,” Inthamoussu said

    Uruguay's Central Bank Vice President Martín Inthamoussu said Tuesday that the exchange rate between the local peso and the US dollar was “set by supply and demand.” He made those remarks minutes after taking up his new position and pledged to work to keep inflation low amid financial stability.

  • Wednesday, August 28th 2024 - 06:41 UTC

    Falklands, instructions for pensioners receiving payments from overseas

    If you have not received your pension payment by 30 August 2024 please contact fips@sec.gov.fk or call the Pensions Office on +500 28417 or +500 28442

    Due to unforeseen circumstances, the overseas payment system, Straight to Bank, is experiencing an issue. The Falkland Islands Government are working with Standard Chartered to urgently investigate this issue and an update will be provided as soon as we have more information.

  • Monday, August 26th 2024 - 14:30 UTC

    Paraguayan carrier allowed to serve domestic route in Uruguay

    Paranair's new service is in line with Uruguay's newly signed open skies agreements, it was explained

    Paraguayan carrier Paranair reached an understanding with Montevideo to add a stopover in Salto to some of its bidaily flights between the Uruguayan capital and Asunción,
    Transport Undersecretary Juan José Olaizola announced.

  • Monday, August 26th 2024 - 08:53 UTC

    Giant wholesale chain planning Argentine exodus?

    Makro has been in Argentina since 1988

    Makro, a leading wholesale supermarket chain where anyone can shop at more convenient prices, has announced its decision to leave crisis-ridden Argentina after some 30 years in the South American country where sales keep plunging despite President Javier Milei's administration successful narrative. According to the consulting firm Scientia, the wholesale sector faced an 18.8% drop in sales in August alone.

  • Friday, August 23rd 2024 - 20:39 UTC

    Uruguay trying to lessen dependence on China for its beef exports

    North America, mainly US, has been the main destination of Uruguayan beef in the first half of this year, ahead of China

    Uruguay is committed to lessen its dependence on the Chinese market for its sales of meat and beef in particular. In recent years China, as with most other Latin American countries has become its main trade partner, absorbing non processed agricultural commodities and minerals while flooding local economies with Chinese industrial goods.

  • Friday, August 23rd 2024 - 20:16 UTC

    UK distillers toast £25m Brazilian boost for Scotch Whisky under the Geographical Indication status

    Industry estimates, Brazil is in the top five global growth markets for alcohol over the next 5 years and its population of over 200 million people already have an appreciation for whisky

    UK Trade Secretary Jonathan Reynolds on Wednesday 21 August visited Glengoyne Distillery in Scotland to celebrate Brazil’s decision to grant special protected status to Scotch Whisky - bolstering ‘Brand Scotland’ by promoting iconic Scottish products across the world. 

  • Wednesday, August 21st 2024 - 06:23 UTC

    Brazil forced to large imports of wheat, despite government's goal of self sufficiency

    Over the past 12 months, a total of 5.7 million tons of wheat arrived at Brazilian ports—the highest 12-month cumulative result since December 2022

    Brazil's imports of wheat in the first seven months of the year are almost equal to the total volume purchased overseas during 2023. The report is from the Center for Advanced Studies in Applied Economics (Cepea) at the University of São Paulo, and most probably can be attributed to the catastrophic floods in the southern states of the country, which are the main producers of the grain.

  • Monday, August 19th 2024 - 23:07 UTC

    New shipment of Argentine gold abroad reported

    It was the third such shipment under President Milei

    A video of an armored truck carrying some 1500 gold bars from Argentina's Central Bank (BCRA) to the Ezeiza International Airport went viral Monday as the third such shipment -worth around US$ 250 million- was presumed to have left for London, it was reported in Buenos Aires. No special security was seen around the vehicle on the highway leading to the air terminal.

  • Monday, August 19th 2024 - 10:18 UTC

    Consumption plunges in Argentina despite Milei's optimism

    Scientia's document also projects declines ranging from 18% to 20% once the figures for the July 29-Aug. 4 week are released

    Consumption in Argentina has dropped below the pandemic and 2001 levels as the South American country's economy continues its erratic behavior under Libertarian President Javier Milei, whose administration depicts a different scenario. A survey conducted by the pollsters Scentia showed the loss of purchasing power and the recession on mass consumption.

  • Monday, August 19th 2024 - 07:38 UTC

    Brazil and China celebrate fifty years of diplomatic relations

    In the first half of 2024, Brazil exported US$ 28.44 billion in agricultural products to China, soybeans, corn, sugar, beef, chicken, cellulose, cotton, and fresh pork

    China and Brazil celebrated on August 15, fifty years of diplomatic relations, which with time paved the way for Beijing to become Latin America's largest economy main trading partner.