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MercoPress, en Español

Montevideo, April 4th 2025 - 02:49 UTC

Economy

  • Monday, February 3rd 2025 - 10:40 UTC

    Trump signs 25% tariffs on Mexican and Canadian goods

    Trump declared a trade war between the US on one side, and China, Mexico, and Canada on the other, with the EU seemingly next in line

    US President Donald Trump on Saturday signed the documents imposing a 25% tariff on Mexican and most Canadian goods and a 10% tariff on Canadian energy products and Chinese goods. The target countries announced retaliatory initiatives. The reciprocal import/export taxation will become effective Feb. 4.

  • Monday, February 3rd 2025 - 08:44 UTC

    Paraguay's BCP outlines scenario under Trump's policies

    Trump's measures target “those countries with which the US maintains high trade deficits such as Mexico and China,” the BCP stressed

    Paraguay's Central Bank (BCP) has picked up the glove from US President Donald Trump's barrage of protectionist economic measures and spoke of higher financing costs among the possible consequences of the Republican leader's policies. In addition, the US dollar would keep its upward trend against the guarani amid global uncertainty. Hence, there would be no room for a reduction in benchmark interest rates.

  • Monday, February 3rd 2025 - 07:38 UTC

    Trump's tariffs already have repercussions in Japan

    Trump's economic plans might impact the exchange rate between the US dollar and the yen

    Hours after US President Donald Trump announced the imposition of 25% tariffs on Mexican and Canadian products, the Nikkei index in Tokyo, which groups together the 225 most representative stocks in the market, plummeted by 2.5%. The White House measures over the weekend impacted the Japanese capital early Monday morning.

  • Saturday, February 1st 2025 - 10:00 UTC

    Paraguayan President describes importance of trade openness in speech at WTO

    Peña is to stay in Switzerland until Sunday

    Paraguayan President Santiago Peña Friday underlined the importance of trade openness and multilateralism during his speech at the World Trade Organization's (WTO) headquarters in Geneva. Peña highlighted “the importance of global integration to strengthen trade and resilience in the face of uncertainty,” the Ministry of Industry and Trade (MIC) said in a statement.

  • Thursday, January 30th 2025 - 13:28 UTC

    BOFA report predicts relative stability in Argentina until mid-term elections

    IMF “disbursements should be used primarily to pay the IMF itself,” the BOFA reckoned

    A Bank of America (BOFA) report released this week forecast that Argentina's Libertarian administration of President Javier Milei would be lifting the so-called exchange rate stocks in December this year. By that time, the rate was projected to stand at AR$ 1,400 = US$ 1. The study also deemed a US$ 20 billion from the International Monetary Fund (IMF) plausible, to endorse Milei's “chainsaw” State spending cuts policies amid greater exchange rate flexibility.

  • Thursday, January 30th 2025 - 11:29 UTC

    Fed leaves rates unchanged with a message to Trump, “in no hurry to adjust policy stance”

    “I’m not going to have any response or comment whatsoever on what the president said,” Powell said’ “It’s not appropriate for me to do so.”

    The United States Federal Reserve left interest rates unchanged following the two day meeting with Fed chair Jerome Powell emphasizing at the press conference that “the bank is in no hurry to adjust its policy stance, since the US economy remains strong”.

  • Wednesday, January 29th 2025 - 20:39 UTC

    Milei’s Davos speech triggers political and social uproar

    In his 30-minute speech, the Argentine president said he had a much bigger task than reforming the chronically crisis-ridden South American country.

    Argentine President Javier Milei generated a wave of criticism after his statements at the World Economic Forum in Davos, where he linked homosexuality with pedophilia. His words triggered the call for an “anti-fascist” march, which is expected to be massive in Buenos Aires and other cities of the country

  • Wednesday, January 29th 2025 - 20:07 UTC

    Financial scandal in Uruguay: Conexión Ganadera and the model that ended up as a Ponzi scheme

    Founded in 1999, Conexión Ganadera grew after the 2002 crisis, offering livestock investments as an alternative to traditional banking.

    The collapse of Conexión Ganadera, one of Uruguay's leading cattle investment firms, has left hundreds of savers in suspense after it was revealed that its financial model operated as a Ponzi scheme. This was stated by accountant Ricardo Giovio, hired by the company to evaluate its situation.

  • Wednesday, January 29th 2025 - 10:39 UTC

    IMF mission leaves Buenos Aires but talks will continue

    There is no deadline for the new understanding between Argentina and the IMF, Adorni said

    The International Monetary Fund's (IMF) team rounded up its mission to Buenos Aires Monday saying that negotiations for a new loan will continue. IMF Managing Director Kristalina Georgieva's envoys held meetings with Economy Minister Luis Toto Caputo and other high-ranking officials from the libertarian administration, after which they reckoned that some progress had been made.

  • Wednesday, January 29th 2025 - 09:56 UTC

    Chile's Central Bank keeps benchmark interest rate at 5%

    In July 2023, the Central Bank's Board made the first cut in the TPM, after stagnating it at 11.25% in December 2022

    Chile's Central Bank Council unanimously voted Tuesday in favor of keeping the monetary policy interest rate (TPM) at 5% for the second month in a row amid high volatility in global financial markets after the recent change of government in the United States. Tuesday's decision halted a downward trend that had been going on for months.