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MercoPress, en Español

Montevideo, May 22nd 2025 - 06:04 UTC

Economy

  • Thursday, February 1st 2024 - 10:01 UTC

    Argentine Central Bank reserves stronger after FMI disbursement

    The latest deal between Argentina and the IMF unblocked a new tranche of disbursements

    After the International Monetary Fund (IMF) Board approved the staff-level agreement with Argentina's current administration, the Government of President Javier Milei received a US$ 4.7 billion disbursement which bolstered the Central Bank (BCRA) reserves to US$ 27.635 billion, it was reported Wednesday in Buenos Aires. The latest deal between Argentina and the IMF unblocked a new series of disbursements.

  • Wednesday, January 31st 2024 - 10:59 UTC

    IMF foresees gloomy near future for Argentina

    Latin America and the Caribbean were also forecast by the FMI to suffer an economic slowdown driven mainly by Argentina's downward revision

    Following President Javier Milei's latest measures, the International Monetary Fund (IMF) Tuesday reviewed for the worse its projections for Argentina's economy this year (-2.8%) and forecasted inflation would remain high in the short term.

  • Wednesday, January 31st 2024 - 10:19 UTC

    Latin America exports in 2023 contracted 2,2%, and prospects for this year are uncertain, IDB report

    Export performance deteriorated throughout most of the region. South America and the Caribbean were the sub regions hit hardest by the fall in commodity prices

    The value of exports from Latin America and the Caribbean contracted by 2.2% in 2023 after having grown by 17.0% in 2022, a new release from the Inter-American Development Bank (IDB) reports.

  • Tuesday, January 30th 2024 - 10:31 UTC

    Squid is becoming “too expensive” in Korea because of lesser catch volumes

    Korea Agro-Fisheries & Food Trade Corporation and the Korea Agricultural Market Information System claim the price of a medium-sized frozen squid has increased 20.8% in twelve months

    Korean media is pointing out the fact that squid, once considered the “people's side fish”, given its affordability, is now an expensive dish, and has offered some market prices in South Korean Won, which exchanges at 1,330 SKW to the US dollar.

  • Monday, January 29th 2024 - 10:54 UTC

    Milei says “There is no Plan B”: What else did the President tell the WSJ?

    Milei also pointed out that Argentina's history was riddled with Plan Bs of doing things only halfway right

    Argentine President Javier Milei underscored in an interview with The Wall Street Journal (WSJ) published on Sunday “the speed” at which his government was “achieving results” and warned that “there is no plan B to do things right.”

  • Saturday, January 27th 2024 - 10:59 UTC

    Milei: Cabinet crisis, diplomatic clash with Colombia and Argentina “closer” to dollarization

    Economy Minister Luis 'Toto' Caputo said the taxation chapter of the Omnibus Law bill was left for later and admitted he would be taking over Infrastructure after Ferraro's sacking

    While Argentine President Javier Milei said Friday that his country was closer to dollarizing its economy, Minister Luis 'Toto' Caputo announced that the taxation part of the so-called Omnibus Law bill was being spared for a later date in a move to have the legislation passed as soon as possible to achieve a zero deficit. However, the Chief of State's plans clash with other conflicts within the cabinet and also in diplomatic matters.

  • Saturday, January 27th 2024 - 10:55 UTC

    French PM says his country would not endorse EU-Mercosur deal

    President Macron “has always opposed” such an understanding, Attal explained

    French Prime Minister Gabriel Attal Friday announced his country's decision once again to oppose the free trade deal between the European Union (EU) and Mercosur amid protests from local farmers objecting to President Emmanuel Macron's latest measures affecting agrifood production.

  • Thursday, January 25th 2024 - 15:12 UTC

    Argentine leftwing and labor groups stage national strike against Milei's reforms

    “I am a fan of Huracán, but they want to come for the big [football] clubs,” explained Daer about Milei's most encompassing DNU that targets virtually everything

    Argentine labor unions staged a relatively successful strike and demonstration Wednesday to protest against President Javier Milei's emergency decree (DNU) already in force plus the so-called Omnibus Law bill to curb public spending which would defund numerous activities currently running on State allowances. It was the first such measure since May 29, 2019, under then-President Mauricio Macri (2015-2019).

  • Wednesday, January 24th 2024 - 09:38 UTC

    Toyota's first plant in Brazil shut down

    The facilities had become obsolete since opening in 1962 and newer factories were preferred for current challenges

    Japanese giant carmakers Toyota this week closed its São Bernardo plant, the company's oldest factory in Brazil which had been established in 1962. It was there that the Land Cruiser “Bandeirante” and the Corolla models were built in South America. Toyota's administrative headquarters for Brazil and South America also operated there for decades. It was said to be the company's first production facility outside Japan.

  • Tuesday, January 23rd 2024 - 10:36 UTC

    Brazil's gov't pushes for further industrial development

    Lula underscored the role of protectionism in hindering industrial development

    President Luiz Inácio Lula da Silva Monday launched the New Industry Brazil (NIB) plan which promises to invest R$ 300 billion (US$ 60.12 bn) by 2026 in a move to boost the South American country's economy. The project laid out by the National Industrial Development Council (CNDI) aims to transform Brazil's industry into a more innovative, green, exporting, and productive sector, it was explained.