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MercoPress, en Español

Montevideo, March 9th 2026 - 21:06 UTC

Economy

  • 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.

  • Monday, January 22nd 2024 - 10:59 UTC

    SME industries plummet in Argentina

    In December, 53.4% of Argentina's SMEs reported difficulties replenishing stocks, especially in the procurement of raw materials and inputs

    The Argentine Confederation of Medium-Sized Companies (CAME) released a report in Buenos Aires during the weekend saying industries from those companies had shrunk by 26.9% in December last year from the same month in 2022, amid a presidential changeover and growing uncertainties. The activity closed last year with an accumulated drop of 2.6%.

  • Friday, January 19th 2024 - 10:17 UTC

    Foreign Ministers of Brazil and China holding key talks

    Wang Yi and Vieira are to meet again Friday

    China's Foreign Minister Wang Yi held a meeting in Brasilia on Thursday with his Brazilian counterpart Mauro Vieira and President Luiz Inácio Lula da Silva's special advisor Celso Amorim to discuss trade and cooperation between the two countries, it was reported. Wang Yi and Vieira are to meet again Friday for the signing of a series of agreements after which they will be issuing a joint statement to the press, it was also explained.

  • Friday, January 19th 2024 - 10:10 UTC

    Paraguay's BCP confirms CPI in 2023 within target range

    Paraguay ranked behind Ecuador, Bolivia, and Peru

    Paraguay's Central Bank (BCP) Thursday released a report showing that the Consumer Price Index (CPI) for 2023 was 3.7%, making it the fourth lowest in South America in addition to falling within the target range (3.8%). It also meant a decrease from 2022's 8.1%.

  • Thursday, January 18th 2024 - 21:13 UTC

    Argentina: Record highs in parallel dollar rates as the country grapples with economic challenges

    While the wholesale dollar rises by only 70 cents to $819.30, the dynamic “blue” dollar or parallel rate was around $1,240, near its intraday nominal peak of $1,250, presenting a 51.4% gap

    The strength of the dollar in alternative markets is once again exerting pressure on financial dealings on Thursday, with the exchange rate gap reaching 60%, posing challenges to President Javier Milei's economic plan amidst soaring inflation and increasing poverty.

  • Thursday, January 18th 2024 - 10:59 UTC

    Milei holds “very good” meeting with Georgieva

    Milei and Georgieva met for 25 minutes

    Argentine President Javier Milei said his 25-minute meeting Wednesday with International Monetary Fund (IMF) Managing Director Kristalina Georgieva at the World Economic Forum was “very good” after a verbal agreement was reached last week between the credit agency and the South American country. It was the first time that Milei and Georgieva saw each other face to face.

  • Thursday, January 18th 2024 - 10:47 UTC

    Javier Milei warns WEF that Western civilization “is in danger”

    “Capitalism is the only tool we have to end hunger and poverty on the planet,” Milei argued

    Argentine President Javier Milei Wednesday warned global leaders at the World Economic Forum in Davos, Switzerland, that the Western civilization was in peril as it was plunging into socialism and neomarxism. His remarks drew mixed reactions: While his Libertarian followers were elated to hear him say that there, others could simply not believe their ears, some of them through an interpreter because Milei spoke in Spanish.

  • Thursday, January 18th 2024 - 10:34 UTC

    Argentine province to have its own currency

    “The [federal] Government forces us to do this because of the cruelty of the adjustment,” Quintela said

    The Argentine province of La Rioja's legislature Wednesday approved the issuance of a quasi-monetary unit to pay the public workers' salaries as budgetary restrictions from the federal government begin to be felt.