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MercoPress, en Español

Montevideo, November 24th 2024 - 19:07 UTC

Economy

  • Thursday, February 2nd 2023 - 10:28 UTC

    Brazil Central Bank leaves benchmark rate unchanged at 13,75%; warns about fiscal policy

    Copom reiterated that they “will not hesitate to resume the tightening cycle” if inflation does not cool as expected.

    Brazil's Central Bank on Wednesday left the Selic benchmark interest rate at 13,75%, but in the adjoining release, the bank's rate setting committee, Copom said the high interest rate policy is expected to last longer than market expectations because of fiscal risks

  • Thursday, February 2nd 2023 - 10:21 UTC

    Fed admits inflation cooling, but more evidence needed that “the disinflationary process has started”

    Powell stressed it was too soon to declare victory over the worst inflation bout in four decades: “We will need substantially more evidence to be confident”

    The Federal Reserve following a two day meeting announced it decided on Wednesday to raise its key interest rate a quarter point arguing that although inflation is easing it is still too high, and did not discard further rate hikes could be needed since more evidence is needed to be confident inflation is in a sustained downward path. The increase was the eighth since March.

  • Wednesday, February 1st 2023 - 09:42 UTC

    Argentine fisheries exports down 8,4% in 2022; exchange rate policy hindered sales overseas

    Argentine monetary policy with the great exchange gap between the official US dollar price rate and the free market was highly detrimental.

    Argentine fisheries exports dropped 8,4% last year, to US$ 1,804bn because of lower prices and a retraction in demand from the main markets, according to Capeca, the Chamber of fishing vessels' annual report. Not to mention the Argentine monetary policy with the great exchange rate gap between the official US dollar price and the free market.

  • Tuesday, January 31st 2023 - 18:41 UTC

    IMF slightly more optimistic about 2023

    IMF Chief Economist Pierre Olivier Gourinchas explained that in 2023 Argentina will grow by 2%, slightly above the region's average

    The International Monetary Fund (IMF) Monday adjusted its projections for 2023 with relatively good news since it upgraded its growth forecast for Latin America by 0.1 percentage points from October's figures. The economy in Latin America and the Caribbean is expected to grow by 1.8% this year amid steady inflation and the worldwide consequences of the armed conflict in Ukraine, the IMF heralded.

  • Tuesday, January 31st 2023 - 10:35 UTC

    “Bregret”, the new word to express regret for voting Britain lo leave the EU

    Focaldata taking in 10,000 people across the country, asked respondents whether they agreed or disagreed with the statement, “Britain was wrong to leave the EU”.

    Like Brexit a few years ago, popular vocabulary in UK has incorporated “Bregret”, basically meaning “regretting the decision to vote for Britain leaving the European Union”. And one of the latest opinion polls indicates a dramatic shift in the UK as to such a momentous vote. The poll, by Focaldata and taking in 10,000 people across the country, asked respondents whether they agreed or disagreed with the statement, “Britain was wrong to leave the EU”.

  • Tuesday, January 31st 2023 - 08:37 UTC

    The UK economy forecasted to contract 0,6% this year, IMF report

    In its World Economic Outlook update, the IMF said UK's (GDP) would shrink 0,6% rather than grow by 0.3% this year

    The UK economy this year is forecasted to perform worse than similar advanced economies, and is estimated to contract by 0,6%, according to the latest report from the IMF. The new forecast reflects UK's high energy prices and strong inflation.

  • Monday, January 30th 2023 - 11:14 UTC

    LATAM's finances expected to recover in 2023 with passenger and cargo growth

    In November LATAM announced the completion of a years-long restructuring process in the US after it declared bankruptcy in 2020 due to the worldwide travel slowdown

    South America's largest carrier, LATAM expects double digit revenue growth this year, according to a company guidance to stock markets. The Chile-based airline's revenues are expected to reach between US$ 11 billion and US$ 11.5 billion by the end of this year, compared to US$ 9.5 billion estimated for 2022, which if achieved would mark an increase of nearly 16% to 21%.

  • Thursday, January 26th 2023 - 18:33 UTC

    Massa signs deal with FAO chief Qu Dongyu

    Massa and Dongyu reviewed the international context of the food market

    Argentina's Superminister of Economy and Production Sergio Massa signed an agreement with Food and Agriculture Organization of the United Nations (FAO) Director General Qu Dongyu during the latter's trip to Buenos Aires for the VII Community of Latin American and Caribbean States (Celac) Summit.

  • Thursday, January 26th 2023 - 10:02 UTC

    Argentine banks short of storage capacity to pile the rapidly depreciating Pesos

    Argentina’s largest denomination banknote – 1,000 pesos – is currently worth about US$ 5.40 at the official exchange, but barely reached US$ 2.65 in the real market

    Argentina has been plagued by economic and financial instability for years and years, and its overall situation has worsened considerably in recent years, with the country once again defaulting on its debt in 2020 and having been forced to turn to capital controls to protect its national currency.

  • Thursday, January 26th 2023 - 09:44 UTC

    Alberto Fernández meets with European Council President

    Michel believes Lula makes a difference regarding closer ties between the region and the European Union

    Alberto Fernández Wednesday met European Council President Charles Michel at Casa Rosada to discuss the importance of strengthening the bilateral agenda European Union and the Community of Latin American and Caribbean States (Celac).