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MercoPress, en Español

Montevideo, May 18th 2025 - 21:18 UTC

Economy

  • Monday, March 31st 2025 - 10:35 UTC

    Formal employment up in Brazil last month

    In the quarter ending in February, the country's employed population was 102.7 million people, the IBGE survey found

    The Brazilian Government of President Luiz Inácio Lula da Silva recorded a positive balance of 431,995 formal jobs in February 2025, marking the highest monthly figure in the Labor Ministry's New General Register of Employed and Unemployed (New Caged) series since it began in 2020.

  • Monday, March 31st 2025 - 09:07 UTC

    Lula clinches meat export deal to Vietnam

    Hanoi is “finally going to buy Brazilian meat for the Vietnamese market,” celebrated Lula

    Brazilian President Luiz Inácio Lula da Silva announced this weekend that he clinched a meat export deal with Vietnam during his meeting with Vietnamese Prime Minister Phạm Minh Chinh, thus adding a new notch to bilateral trade, which last year amounted to US$ 7.7 billion with a US$ 415 million surplus for the South American country.

  • Saturday, March 29th 2025 - 10:23 UTC

    Argentina: Skyrocketing food prices threaten gov't inflationary targets

    It is highly unlikely that Milei's administration can record a 2% inflation in March with food prices going up as they are

    Argentina is experiencing a sharp increase in food prices, complicating the government's goal of keeping inflation close to 2%. Private consulting firms report that food prices rose by approximately 3.2% to 4% so far this month, with total inflation projected to be between 2.4% and 3%. Key drivers include dairy and eggs (up 5.8%), meat (up 5%), vegetables (up 3.3%), and beverages (up 2.2%).

  • Saturday, March 29th 2025 - 10:14 UTC

    Slight drop in unemployment in Uruguay and Chile

    February was Uruguay's last month under President Luis Lacalle Pou. Photo: Sebastián Astorga

    Uruguay's unemployment rate slightly decreased to 7.9% in February from 8.1% in January, according to a National Statistics Institute (INE) report released Friday. This represents a 0.2% drop month-over-month and a 0.4% decrease compared to February 2024, with approximately 150,900 people unemployed. The employment rate remained stable at 59.4%, while the activity rate saw a minor decline from 64.6% to 64.5%. It was President Luis Lacalle Pou's last month in office. Yamandú Orsi was sworn in on March 1.

  • Friday, March 28th 2025 - 10:33 UTC

    Argentina secures $20B IMF deal, aims to boost Central Bank reserves to $50B

    Milei said there would be no devaluation because the problem is the lack of pesos, not the lack of dollars

    Argentina’s Economy Minister Luis Toto Caputo announced Thursday that the loan negotiated with the International Monetary Fund (IMF) amounts to US$ 20 billion disbursement from the IMF, which, in addition to further borrowing from the Interamerican Development Bank (IDB), the World Bank, and the CAF would leave the Central Bank's (BCRA) reserves around US$50 billion.

  • Thursday, March 27th 2025 - 16:50 UTC

    India and China no longer buying crude from Venezuela after Trump's threats

    According to vessel monitoring tracking services, crude loading operations are slowing down in Venezuelan ports

    The United States imposing a 25% tariff on countries importing oil and gas from Venezuela starting next month has already taken its toll on Caracas' coffers as India and China —accounting for over 50% of its crude exports— have halted purchases. China, which imported 351,000 barrels per day (bpd) last year, and India, with 254,000 bpd in January, are stepping back, with companies like India’s Reliance Industries planning to stop imports.

  • Thursday, March 27th 2025 - 10:21 UTC

    Scufffles between retirees and law enforcement officers reported in Buenos Aires

    The situation keeps heating up as leftwing organizations and unions seek to capitalize on demonstrations that have been going on for years

    Clashes between law enforcement officers and demonstrators during Wednesday's traditional protest by Argentine retirees in Buenos Aires demanding better wages and medical coverage were recorded once again this week as unions and leftwing organizations tried to block a street, thus triggering Security Minister Patricia Bullrich's anti-picket protocol, which resulted in senior citizens, a girl and a photographer pepper-sprayed as authorities sought to keep traffic flowing.

  • Wednesday, March 26th 2025 - 12:16 UTC

    Argentina's case before the IMF advancing rapidly

    The IMF would not be so keen on letting the BCRA step in at will to keep doown the US dollar exchange rate

    According to International Monetary Fund (IMF) sources, negotiations with Argentina are in an advanced stage after a meeting between the credit agency's board of directors and technical staff on Tuesday. Further details are expected to be announced at a press conference on Thursday by IMF Spokeswoman Julie Kozack.

  • Tuesday, March 25th 2025 - 10:15 UTC

    Lula arrives in Japan to celebrate 130 years of diplomatic ties

    It is Lula's fifth trip to Japan as President of Brazil, including his two previous terms in office

    Brazilian President Luiz Inácio Lula da Silva and First Lady Janja were welcomed by Japan's Emperor Naruhito and Empress Masako on Tuesday at the Imperial Palace in Tokyo, marking the start of the South American leader's state visit to celebrate 130 years of diplomatic relations between the two countries. Brazil arguably hosts the largest Japanese-descendant population outside Japan with around 2 million people, while Japan is home to the fifth largest Brazilian community abroad, with around 200,000 people.

  • Monday, March 24th 2025 - 10:30 UTC

    Rousseff to stay at BRICS Bank helm for 5 more years after Moscow's nod

    Putin preferred to leave Rousseff rather than appoint a Russian official given his country's restrictions stemming from the war in Ukraine

    Former Brazilian President Dilma Rousseff will remain at the helm of the BRICS bloc's Shanghai-based New Development Bank following Vladimir Putin's green light, Agencia Brasil reported citing Brasilia's newly-appointed Secretary for Institutional Relations Gleisi Hoffmann. Rousseff's term was to end in July this year.