Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, November 24th 2024 - 11:21 UTC

Economy

  • Thursday, August 8th 2024 - 09:24 UTC

    Brazil records US$ 7.6 bi trade surplus in July

    Sales to Argentina continued to drop as a result of the latter's seemingly endless crisis

    Given that sales abroad reached an all-time high of US$ 30.9 billion in July, Brazil recorded a foreign trade surplus of US$ 7.6 billion, according to data released Tuesday by the Ministry of Development, Industry, Trade, and Services, which represented a 6.6% drop from the US$ 8.2 billion surplus in July 2023, Agencia Brasil reported.

  • Thursday, August 8th 2024 - 09:11 UTC

    Former CFK Trade Secretary handed down 3-yr sentence

    “After 14 years the Judiciary says Indec's public statistics are correct,” Moreno underlined

    Former Argentine Domestic Trade Secretary Guillermo Moreno was sentenced to three years in jail and imposed a six-year disenfranchisement. According to local media, he was found guilty of rigging the data published by the National Institute of Statistics and Census (Indec) between 2006 and 2007 under then-President Cristina Fernández de Kirchner (CFK).

  • Tuesday, August 6th 2024 - 20:31 UTC

    BCB's Copom would not hesitate to up Selic if need be

    Economic activity above expectations has led Brazil to the current situation

    Brazil Central Bank's Monetary Policy Committee (Copom) warned that it would not hesitate to up the basic Selic interest rate to make sure inflation meets the target if necessary.

  • Tuesday, August 6th 2024 - 10:16 UTC

    Uruguay's YoY inflation up but still within target range

    Sugar went down 10.81%, the INE reported

    Uruguayan authorities released a report Monday showing that year-on-year inflation stood at 5.45% in July, thus remaining within target range although dangerously approaching its upper limits. According to the National Institute of Statistics (INE), the Consumer Price Index (CPI) recorded a monthly variation of 0.11% and accumulated an increase of 3.73% so far this year.

  • Monday, August 5th 2024 - 21:36 UTC

    “Black Monday” hits stock exchange markets worldwide

    A dwindling US economy amid geopolitical tensions worldwide added to the negative trend, it was reported

    Plunging Asian stock markets set off a domino effect “Black Monday” on Aug. 5. For Japan's Nikkei, a 12.4% drop was its second-deepest ever. As a result, fears of a recession in the United States have mounted following last week's global falls.

  • Saturday, August 3rd 2024 - 09:40 UTC

    Argentina decrees 63% hike on Paraná-Paraguay Waterway tolls

    The new price was set taking into account the CPI over the last 22 years, it was explained

    The Argentine administration of President Javier Milei decreed a 63% hike in the tolls collected from barges sailing through the Paraguay-Paraná Waterway effective this month. The adjustment set a new price of US$ 4.98 (from the previous US$ 3.06) per Net Register Ton (NRT). The figure is projected to reach US$ 6.04 per TRN in 2027.

  • Saturday, August 3rd 2024 - 09:13 UTC

    Mercado Libre tops ranking of LatAm companies

    “We had to do it... and we did it,” Galperín wrote on X after celebrating the company's 25th anniversary

    Mercado Libre, the company founded by Argentine entrepreneur Marcos Galperin, once again became the most valuable in Latin America with a market price exceeding US$ 90 billion, thus outperforming Petrobras (US$ 87.64 billion), Itaú (US$ 56.5 billion) and Walmart Mexico (US$ 54.95 billion).

  • Friday, August 2nd 2024 - 11:57 UTC

    Bank of England cuts basic rate to 5% in divided vote; monetary policy will continue restrictive

    Andrew Bailey, Chair of the Bank of England, admitted that the fall in interest rates was “not mission accomplished yet”.

    The Bank of England Monetary Policy Committee, MPC at its meeting ending on 31 July 2024, voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 5%. Four members preferred to maintain Bank Rate at 5.25%.

  • Friday, August 2nd 2024 - 10:19 UTC

    Chile's Central Bank keeps TPM interest rate unchanged

    The TPM is thus expected to keep dropping “during the monetary policy horizon” but not now, the bank insisted

    Chile's Central Bank decided this week to keep the monetary policy interest rate (TPM) unchanged at 5.75%, it was announced in Santiago after Wednesday's monthly Council meeting during which July's 0.25% lowering from 6% was upheld.

  • Thursday, August 1st 2024 - 09:07 UTC

    Brazil's Copom keeps Selic unchanged

    Most analysts concurred that there were uncertainties regarding the fiscal deficit

    Brazil's Central Bank (BCB) Monetary Policy Committee (Copom) unanimously agreed Wednesday to keep the Selic basic interest rate at 10.5% per year, Agencia Brasil reported. The measure followed through on June's decision to stop the downward cycle that spanned from August last year until March this year, during which the Selic was lowered by 0.5 percentage points at each meeting until in May it was 0.25 percentage points.