Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, May 22nd 2025 - 14:22 UTC

Economy

  • Saturday, December 9th 2023 - 09:57 UTC

    Moody's downgrades China's debt; Beijing insists “unnecessary to worry”

    Moody's is concerned with China's economic slowdown and property crisis. The days of double digit growth are over and the declining trend according to IMF could reach 3,5% in a couple of years.

    Credit risk agency Moody's is warning about growing problems with the Chinese economy, and has cut its outlook on government-s debt to negative from stable. China has become the world's second largest economy and the main trading partner, among others of South American countries.

  • Friday, December 8th 2023 - 10:10 UTC

    IMF official highlights importance of BCRA in tackling inflation

    Kozack acknowledged Argentina's very “fragile social conditions”

    International Monetary Fund (IMF) Communications Director Julie Kozack Thursday insisted during a press conference at the agency's headquarters in Washington that Argentina must have a “strong and credible” Central Bank to reduce inflation under future President Javier Milei. In Kozack's view, high prices are one of the most important imbalances the country needs to tackle.

  • Wednesday, December 6th 2023 - 10:47 UTC

    Europol, Spain and Italy combating counterfeiting of virgin olive oil

    Europol said that faking extra virgin olive oil is a common practice, which is why the fight against it is a law enforcement priority, especially in production countries

    The traditional olive harvests of Spain and to some extent in some areas of Italy has been far from satisfactory, which means among other consequences that the price of virgin olive oil, so demanding for Mediterranean gastronomy, has soared, and so have attempts to smuggle the produce from northern Africa as well as different methods to commercialize adulterated oil.

  • Monday, December 4th 2023 - 10:50 UTC

    EU-Mercosur deal slowly vanishing

    Rich countries always want more, Lula said

    The European Union's Commissioner who was due to attend the Dec. 7 Mercosur Summit in Rio de Janeiro to sign the trade agreement between both blocs has canceled his trip, it was reported Sunday. According to the Financial Times, Valdis Dombrovskis shall not be attending the event, which in addition to announcements in Buenos Aires and Brasilia coupled with further negative statements from French President Emmanuel Macron, would amount to the end. at least for now, of the much-heralded agreement.

  • Saturday, December 2nd 2023 - 11:19 UTC

    Spotify exiting Uruguay as of February

    Lacalle admitted he was among the customers who received Spotify's email

    The global music and podcast streaming service Spotify Friday warned its Uruguayan users that the platform would be leaving the South American country shortly citing “drastic changes in the way music works” locally and that no new accounts can be opened after Dec. 28, it was reported in Montevideo.

  • Saturday, December 2nd 2023 - 10:43 UTC

    UAE, Argentina, Brazil, Chile, and Paraguay agree to promote bioceanic corridor

    The road drafted to be some 2,200 kilometers long would be completed by 2025

    Argentina, Brazil, Chile, the United Arab Emirates (UAE), and Paraguay Friday agreed in Dubai on the sidelines of the United Nations Climate Summit (COP28) to “seek opportunities” for the highway due to link the port of Santos, in Brazil, with the Chilean ports of Arica and Iquique. Former Paraguayan President Mario Abdo Benítez has dubbed the initiative “the small Panama Canal.”

  • Friday, December 1st 2023 - 09:55 UTC

    Pedro Sánchez promises Paraguayan president to work for Mercosur deal finalizing

    Peña insisted that Mercosur has other arrangements in sight, such as Singapore and the United Arab Emirates

    Spanish Prime Minister Pedro Sánchez held a telephone conversation this week with Paraguayan President Santiago Peña during which he insisted on his country's commitment to finalizing the trade deal between the European Union and Mercosur while he held the rotating presidency of the northern alliance. The deal would unite 800 million people and represent a quarter of the world's Gross Domestic Product (GDP). If things go on as projected, Mercosur would obtain duty-free access for 93% of its exports to the EU, with a 10-year deadline to achieve this goal.

  • Thursday, November 30th 2023 - 10:50 UTC

    Milei foresees stagflation for the coming months

    “Inflation is going to remain high because it is the result of the mess made by this government,” Milei said upon returning from the US

    Argentina's Legislative Assembly (Lower and Upper House together) Wednesday proclaimed Javier Milei's victory with 55.65% (14,554,560) of the votes in the Nov. 19 runoff against Economy Minister Sergio Massa. Chairing the meeting, Vice President Cristina Fernández de Kirchner (CFK) also confirmed Victoria Villarruel would be her successor.

  • Wednesday, November 29th 2023 - 10:35 UTC

    Bolivia's full Mercosur membership greenlighted

    For Brazil, Bolivia's full membership of Mercosur means cheaper energy, Senator Chico Rodrigues explained

    Brazil's Senate Tuesday greenlighted Bolivia's accession to the South American Common Market (Mercosur) as a full member of the bloc. Once President Luiz Inácio Lula da Silva enacts the bill, the regional alliance will once again consist of five full members -in addition to Argentina, Paraguay, and Uruguay- as it once happened when Venezuela was admitted but later suspended in 2017 for its undemocratic practices.

  • Wednesday, November 29th 2023 - 10:17 UTC

    Falklands looking for ways to overcome shortage of qualified and experienced labor

    “The Falkland Islands experience unique challenges when it comes to recruiting and retaining experienced workers.”

    The Falkland Islands Executive Council approved a Workforce Development Strategy for the Islands. This follows a public consultation on a draft Strategy undertaken earlier this year. The Falklands with a strong economy have been experiencing for years a shortage of qualified labor.