Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, July 4th 2025 - 05:03 UTC

Economy

  • Friday, May 5th 2023 - 10:10 UTC

    Argentina gets new loan from the IDB

    The new deal is in addition to one granted the day before

    The Interamerican Development Bank (IDB) has granted Argentina a US$ 150 million loan to strengthen educational access for school-age youth in the province of Buenos Aires, it was announced Thursday. This new credit is in addition to another one granted the day before in the amount of US$ 265 million, to boost the inclusion of people with disabilities.

  • Thursday, May 4th 2023 - 10:40 UTC

    “Argentina extremely cheap,” says Uruguayan president

    “Naturally the residents of the coastal cities consume where it is cheaper for them,” Lacalle admitted

    Uruguayan President Luis Lacalle Pou said his country has a problem with prices in Argentine being so low due to a favorable exchange rate that people cross the border to do their shopping.

  • Thursday, May 4th 2023 - 10:10 UTC

    US Fed raises interest rate yet again

    Further rate increases by the Federal Reserve may lead to recession, it is feared

    The US Federal Reserve Wednesday upped its benchmark interest rate by a quarter point to between 5% and 5.25%, its highest level in 16 years, which further tightened credit for businesses and consumers, it was announced.

  • Wednesday, May 3rd 2023 - 11:55 UTC

    Lula promises to help his “friend” Alberto Fernández

    Alberto may fly back to Argentina calmer, Lula said. “It is true that without any money, but with a lot of political disposition...”

    Argentine President Alberto Fernández Tuesday thanked his Brazilian colleague Luiz Inácio Lula da Silva for the latter's commitment to helping Argentine overcome the current crisis: “I celebrate the explicit support that Lula has given us as a country and as a government,” Fernández said after the meeting at the Alvorada Palace. He also highlighted Lula's pledge to strengthen Brazilian exports and support negotiations with the International Monetary Fund (IMF).

  • Wednesday, May 3rd 2023 - 11:23 UTC

    Chile's March economic activity indicator contracts 2,1%, with the largest falls in mining and manufacturing

    This is also the second month running economic contraction and the largest fall since last November when the Chilean economy collapsed minus 3,3%.

    Chile's monthly economic activity indicator, Imacec, contracted in March 2,1% compared to the same month in 2022, according to the latest report from the country's Central Bank. The indicator is located in the pessimist area of analysts' expectations who were anticipating a drop of minus 1,7% to minus 2%, following the latest reports of industrial production and commerce activity during March. This is also the second-month running contraction and the largest fall since last November when the Chilean economy collapsed minus 3,3%.

  • Wednesday, May 3rd 2023 - 11:13 UTC

    Deforestation controversy: despite EU landmark legislation, Brazil will keep to its own legal system

    Former agriculture minister Roberto Rodriguez said the law amounted to a non-tariff trade barrier, calling it “exaggerated protectionism.”

    Brazil’s government said it could not interfere with a landmark EU law banning imports of commodities linked to deforestation but will keep farming according to its own laws. The law approved by the European Parliament on April 19 bans imports of coffee, beef, soy, palm oil, cocoa, rubber, wood, charcoal and derived products including leather, chocolate and furniture if they are linked to forest destruction.

  • Wednesday, May 3rd 2023 - 10:58 UTC

    Shortage of rain water threatens Panama Canal crossings forcing ships to reduce their draft and cargoes

    Alhajuela and Gatún are the two artificial lakes in the Caribbean province of Colón that supply water to the canal, and both have been affected by the drought

    Insufficient rainfall has once again forced the Panama Canal to reduce the draft of ships crossing through the inter-oceanic route – another episode of the water supply crisis that threatens the future of the maritime course that handles 6% of global maritime trade

  • Wednesday, May 3rd 2023 - 10:56 UTC

    UK expected to reopen Brazilian poultry imports at the latest in June, minister Fávaro

    According to the European Food Safety Authority (EFSA), the continent is witnessing its biggest avian flu outbreak, with 37 nations affected and 2,540 cases in commercial poultry establishments

    With no new shipments since 2017, Brazilian poultry exports to the UK are set to be re-launched this year, announced Minister of Agriculture Carlos Fávaro at an agribusiness seminar in São Paulo last week.

  • Tuesday, May 2nd 2023 - 10:57 UTC

    Massa to broker imports from Brazil paid in Argentine pesos

    The Economy Minister will join President Alberto Fernández's entourage

    Argentina's Economy Minister Sergio Massa will travel to Brazil alongside President Alberto Fernández to find credit alternatives through which to spend fewer dollars in bilateral trade, it was reported.

  • Tuesday, May 2nd 2023 - 10:20 UTC

    Lula sets up committee to work on legislating Uber-like work

    If these workers get sick they must have coverage, Lula said

    Brazilian President Luiz Inácio Lula da Silva's administration created a working group to draft labor rules for drivers and good deliverers using mobile applications. The initiative was published Monday in the Diário Oficial da União (Official Gazette).