Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, December 3rd 2024 - 17:28 UTC

Economy

  • Tuesday, September 10th 2024 - 10:12 UTC

    Bolivian President explains the reasons behind the current crisis.

    Arce blamed Evo's government (in which he served as Economy Minister) for the crisis facing the current administration

    Bolivian President Luis Arce Catacora explained during a TV appearance that lower oil and gas outputs have led the landlocked country to its current economic plight, resulting in the lack of fuel for domestic consumption and US dollars for foreign trade transactions. In his message on Bolivia TV, Arce also highlighted his Government's plan to reverse the ongoing crisis.

  • Tuesday, September 10th 2024 - 08:12 UTC

    Morgan Stanley, Goldman Sachs, Citi forecast oil price falling in Q4 and 2025

    Weaker Chinese demand, strong US Shale production and end of OPEC+ cuts will force oil barrel price down anticipate investment banks

    Investment bank Morgan Stanley has again cut its forecast price for a barrel of oil, expecting the international benchmark to average US$ 75 a barrel in the last quarter of the year. This is because analysts at Morgan Stanley see rising headwinds on the demand side, which has been their key reason for cutting their Q4 oil price forecast.

  • Saturday, September 7th 2024 - 10:55 UTC

    Paraguay and Argentina reach understanding on Waterway tolls

    A mechanism was also established for the reimbursements of fees paid in excess since February last year, it was explained

    The governments of Paraguay and Argentina have reached an understanding regarding the collection of tolls on the latter's part for the use of the Paraguay-Paraná Waterway, it was announced.

  • Thursday, September 5th 2024 - 10:45 UTC

    Argentina, only country in the region with a contracting economy

    More and more Argentines keep falling daily into poverty or indigence

    Less than a year into the government of Libertarian President Javier Milei, Argentina will be the only country in the region with negative growth in 2024, according to projections by the World Bank, the International Monetary Fund (IMF), ECLAC, and BBVA, which forecast a 3.2% contraction of Gross Domestic Product (GDP) in South America's second-largest economy.

  • Thursday, September 5th 2024 - 09:59 UTC

    Brazilian police and IDB sign cooperation agreement

    Rodrigues highlighted the importance of cooperation among police forces in the Americas

    Brazil's Federal Police Director General Andrei Rodrigues and the Inter-American Development Bank's (IDB) representative in South America's largest country Morgan Doyle Wednesday signed a memorandum of understanding to join forces in the fight against organized crime as well as actions against the environment in the Amazon Basin. The ceremony took place during the XIV Ordinary Ameripol Summit in Foz do Iguaçu, bordering Paraguay and Argentina.

  • Thursday, September 5th 2024 - 08:05 UTC

    Brazil posts GDP growth above expectations in 2Q of 2024

    The IBGE also reported a 1.4% increase in exports of goods and services in the second quarter of 2024

    According to a report from the Brazilian Institute of Geography and Statistics (IBGE) released this week, the Gross Domestic Product (GDP) in South America's largest country grew 1.4% in the second quarter of 2024 from the year's first trimester, far exceeding expectations, Agencia Brasil reported. The country’s total wealth amounts to R$ 2.9 trillion (nearly US$ 514 billion). The GDP represents the sum of all wealth produced in the country.

  • Tuesday, September 3rd 2024 - 22:30 UTC

    Downspout affects Paraguayan foreign trade freight rates

    In the third week of August, the Paraguay River was one centimeter above its historical minimum

    Paraguayan import/export operations, which are heavily dependent on barge transport through the Paraná and Paraguay Rivers, saw costs go up 29.2% interannually in July as lower water levels limited both navigation and the amount of cargo each vessel can carry. In the third week of August, the Paraguay River was one centimeter above its historical minimum.

  • Monday, September 2nd 2024 - 11:40 UTC

    Milei vetoes pensions increase but faces Congress' reprisal

    Milei cited the Senate's Rulebook requirement that every bill includes in its foundations its source of financing

    Argentine President Javier Milei vetoed in its entirety Bill 27.756 providing for an increase in the wages of senior citizens and pensioners. The measure became effective after appearing in Monday's issue of the Official Gazette.

  • Monday, September 2nd 2024 - 11:38 UTC

    Paraguayan businesses concerned as dollar keeps soaring

    “We fear that this situation will affect the Christmas season,” Caje argued

    Given the seemingly unstoppable soar of the US dollar against the local guaraní during a whole week, the Association of Importers and Traders of Paraguay (Asimcopar) said it feared the current trend might hit year-ending sales, which largely feature imported items.

  • Saturday, August 31st 2024 - 10:22 UTC

    Brazil: Lula picks Galípolo for BCB CEO post

    The nominee still needs the Senate's nod

    Brazilian President Luiz Inácio Lula da Silva picked Central Bank Monetary Policy Director Gabriel Galípolo to replace Roberto Campos Neto as CEO. The outgoing chief executive had been appointed by Lula's predecessor Jair Bolsonaro and it was no secret that he would not remain in office at the end of his term. To be confirmed for the post, Galípolo still needs the Senate's nod.