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MercoPress, en Español

Montevideo, May 22nd 2025 - 06:05 UTC

Economy

  • Saturday, February 3rd 2024 - 10:59 UTC

    Argentine Lower House broadly approves Milei's workhorse bill

    The House will start reviewing next Tuesday each of the more than 300 provisions featured in the draft

    Argentina's Lower House Friday broadly approved by 144 votes to 109 President Javier Milei's so-called Omnibus Law bill to curb State spending and achieve zero deficit, it was reported in Buenos Aires. Next week, each provision of the draft will be analyzed separately, it was also explained.

  • Saturday, February 3rd 2024 - 10:34 UTC

    Paraná River: Traffic restored after ship is freed from bridge pillar

    Traffic was partially diverted to the Paraná Guazú temporarily

    The Liberian-flagged freighter En May was removed on Friday from one of the pillars of the Zárate-Brazo Largo bridge that connects the Argentine provinces of Buenos Aires and Entre Ríos, where she got stuck after losing her steering capabilities last Sunday. Full navigation was thus restored on the Paraná River waterway.

  • Friday, February 2nd 2024 - 10:55 UTC

    BlackRock: Investing guru Larry Fink tells Milei he will be visiting Argentina in May

    Fink told Milei that it would “take a long time for investments to return to Argentina”

    BlackRock CEO and founder Larry Fink told Argentine President Javier Milei in a virtual meeting that he would be visiting the South American country in May, and Casa Rosada Spokesman Manuel Adorni confirmed in Buenos Aires.

  • Friday, February 2nd 2024 - 10:29 UTC

    S&P raises Paraguay's grading to BB+

    Fernández Valdovinos insisted that the new rating represented more opportunities for investment and economic growth

    The Standard & Poor's (S&P) rating agency Thursday raised Paraguay's grading from BB to BB+ after 10 years, Economy Minister Carlos Fernández Valdovinos announced. The news represented one more step towards obtaining an investment grade rating (a low risk of non-payment of debts), he also explained on social media.

  • Friday, February 2nd 2024 - 10:27 UTC

    Brazil: STF judge suspends heavy fine on Odebrecht

    Those being investigated may have been led to make decisions contrary to their interests and for the benefit of the prosecution, Toffoli argued

    Brazilian Supreme Federal Court (STF) Justice José António Dias Toffoli ordered a R$ 8.5 billion (about US$ 1.7 billion) corruption fine on Odebrecht suspended after raising doubts on the circumstances that led the company to accept such a collaboration agreement with the Prosecutor Office.

  • Friday, February 2nd 2024 - 03:48 UTC

    Strong support from IMF to President Milei and his austerity policies

    Kristalina Georgieva with president Milei at IMF main offices in Washington

    The new government of Argentine president Javier Milei and its austerity policies to try and put the country's economy back on track received a strong boost from the International Monetary Fund, IMF, which approved the disbursement of US$ 4,7 billion.

  • Friday, February 2nd 2024 - 03:00 UTC

    Bank of England leaves basic rate at 5,25%; little space for any cuts

    Since the MPC’s previous meeting, global GDP growth has remained subdued, although activity continues to be stronger in the United States

    The Bank of England Monetary Policy Committee, MPC, at its meeting ending on 31 January 2024, voted by a majority of 6–3 to maintain Bank Rate at 5.25%. Two members preferred to increase Bank Rate by 0.25 percentage points, to 5.5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 5%.

  • Thursday, February 1st 2024 - 10:55 UTC

    Lacalle praises Milei for acquiescing to further dredging of River Plate

    The previous Argentine administrations of Presidents Mauricio Macri (2015-2019) and Alberto Fernández (2019-2023) stalled the project out of landlocking fears

    Uruguayan President Luis Lacalle Pou Wednesday praised his Argentine counterpart Javier Milei's willingness to cooperate in further dredging the River Plate at the Port of Montevideo from 13 to 14 meters. The previous administrations of Argentine Presidents Mauricio Macri and Alberto Fernández (2015-2023) considered that these works would leave the port of Buenos Aires in a disadvantageous position. Negotiations in this regard started in 2013 under Presidents Tabaré Vázquez and Cristina Fernández de Kirchner (CFK).

  • Thursday, February 1st 2024 - 10:51 UTC

    Brazil lowers Selic basic interest rate

    Further Selic cuts are expected in the coming months

    Brazil's Monetary Policy Committee (Copom) unanimously decided Wednesday to cut down the country's basic interest rate known as Selic by 0.5 percentage points to 11.25% per year, Agencia Brasil reported.

  • Thursday, February 1st 2024 - 10:15 UTC

    Argentina: Fuel at pumps soars as gov't lifts taxation cap

    Decree 107/2024 bears the signatures of President Milei and Ministers Luis ‘Toto’ Caputo (Economy) and Guillermo Francos (Interior)

    Drivers lined up for hours Wednesday in Buenos Aires and other places across Argentina as a new increase in the price of fuel at pumps was expected to be enacted Thursday following a decision by the administration of President Javier Milei to release a liquid fuel (ICL) and carbon dioxide (IDC) tax cap in force since 2021, it was reported.