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MercoPress, en Español

Montevideo, April 4th 2025 - 23:35 UTC

Economy

  • Wednesday, January 22nd 2025 - 21:13 UTC

    Milei would have no qualms breaking up with Mercosur if need be for FTA with US

    Milei is willing to pay any price to drive along what he thinks is prosperity's road

    Argentine President Javier Milei said in an interview with Bloomberg in Davos (Switzerland) that if breaking up with the Southern Common Market (Mercosur) was a requirement to sign a Free Trade Agreement (FTA) with the United States, he would not hesitate to do it.

  • Wednesday, January 22nd 2025 - 09:30 UTC

    Brazilian Central Bank report foresees 5.08% inflation for this year

    The Brazilian real is expected to grow against the US dollar in the coming years, the Focus Bulletin said

    The Focus Bulletin released earlier this week by Brazil's Central Bank (BCB) projected a 5.08% inflation for this year in South America's largest country. The new prediction represented a slight twitch from last week's 5% National Consumer Price Index (IPCA). Meanwhile, Brazil's Gross Domestic Product (GDP) - the sum of goods and services produced in the country - is expected to grow by 2.04% in 2025, a slight improvement from 2.02% the week before.

  • Tuesday, January 21st 2025 - 21:45 UTC

    Italian teenager toys with Mediterranean merchant ship traffic just for fun

    Despite the legal consequences he may now face, the Italian teenager is likely to end up hired by a cybersecurity company

    A 15-year-old lad from Cesena, Italy, toyed with merchant ship routes in the Mediterranean after accessing the navigation systems just for fun. Although no material damage was reported, a criminal case has been opened against the teenager, whose parents claimed to be unaware of those activities.

  • Tuesday, January 21st 2025 - 10:45 UTC

    Argentina records foreign trade surplus in 2024

    An Indec report showed that achievement for the first time in two decades

    Argentina posted last year its highest nominal trade surplus in two decades, according to a National Institute of Statistics and Census (Indec) report released Monday in Buenos Aires. The document showed a US$ 18.9 billion positive outcome which contrasted with the US$ 6.925 billion deficit the year before.

  • Monday, January 20th 2025 - 07:12 UTC

    Milei holds positive meeting with Georgieva

    “We are doing very well,” Milei posted on social media after his encounter with the IMF's Managing Director

    Argentine President Javier Milei and International Monetary Fund (IMF) Managing Director Kristalina Georgieva held a meeting Sunday in Washington DC ahead of Donald Trump's inauguration to discuss the economic situation in the South American country.

  • Monday, January 20th 2025 - 05:56 UTC

    Shock-Proofing the UK Economy

    In UK the ten-year government bond yields rose faster than yields in the US and, by a much larger margin, to those in the Eurozone.

    By Mohamed A. El-Erian (*) - No country wants external developments to drive up its borrowing costs and weaken its currency, which is what the UK is facing today, together with serious cyclical and structural challenges. But if the British government responds appropriately, recent market volatility might turn out to have a silver lining.

  • Friday, January 17th 2025 - 09:15 UTC

    Argentina accepting other currencies besides pesos

    The measure is however optional; pesos remain the legal tender

    Effective Friday, Argentines will be allowed to fill out price tags in the currency of their choice (most likely US dollars), the Central Bank (BCRA) announced Thursday, in what has been regarded as a first step towards the dollarization of the economy, one of President Javier Milei's electoral promises.

  • Thursday, January 16th 2025 - 13:48 UTC

    German economy shrinks second year running; lack of Russian gas and Chinese industry hit hard

    Formerly a major customer for cheap Russian gas, Germany has had to scramble to find other energy suppliers

    The German economy, the heart of European Union dynamism shrank by 0.2% in 2024, the second year in a row, according to Destatis, the German Federal Stats Office. In 2023, the German GDP, Europe’s largest contracted by 0,3%.

  • Wednesday, January 15th 2025 - 10:29 UTC

    Indec announces Argentina's inflation in 2024 reached 117.8%

    December's It was the lowest monthly rate since July 2020 amid strict Covid-19 lockdowns, when inflation reached 1.9%

    Argentina's Consumer Price Index (CPI) went up 2.7% in December 2024 for an accumulated 117.8% last year, the National Institute of Statistics and Census (Indec) said Tuesday in a report released in Buenos Aires. It was the lowest monthly rate since July 2020 amid strict Covid-19 lockdowns, when inflation reached 1.9%.

  • Wednesday, January 15th 2025 - 08:47 UTC

    Brazil’s 2024/25 harvest production estimated to reach 322.2 million tons, with soy exports of 105 million tons

    Soybeans total production is estimated at 166.33 million tons, 18.61 million higher than the previous crop with an average yield of 3.509 kilos per hectare

    Brazilian farmers should harvest 322,2 million tons of grains from the 2024/25 crop, representing an 8,2% increase over 2023/24, equivalent to an additional 24.5 million tons, according to the latest estimates from Conab, the county’s National Supply Company.