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MercoPress, en Español

Montevideo, July 3rd 2025 - 19:21 UTC

Economy

  • Tuesday, January 31st 2023 - 08:37 UTC

    The UK economy forecasted to contract 0,6% this year, IMF report

    In its World Economic Outlook update, the IMF said UK's (GDP) would shrink 0,6% rather than grow by 0.3% this year

    The UK economy this year is forecasted to perform worse than similar advanced economies, and is estimated to contract by 0,6%, according to the latest report from the IMF. The new forecast reflects UK's high energy prices and strong inflation.

  • Monday, January 30th 2023 - 11:14 UTC

    LATAM's finances expected to recover in 2023 with passenger and cargo growth

    In November LATAM announced the completion of a years-long restructuring process in the US after it declared bankruptcy in 2020 due to the worldwide travel slowdown

    South America's largest carrier, LATAM expects double digit revenue growth this year, according to a company guidance to stock markets. The Chile-based airline's revenues are expected to reach between US$ 11 billion and US$ 11.5 billion by the end of this year, compared to US$ 9.5 billion estimated for 2022, which if achieved would mark an increase of nearly 16% to 21%.

  • Thursday, January 26th 2023 - 18:33 UTC

    Massa signs deal with FAO chief Qu Dongyu

    Massa and Dongyu reviewed the international context of the food market

    Argentina's Superminister of Economy and Production Sergio Massa signed an agreement with Food and Agriculture Organization of the United Nations (FAO) Director General Qu Dongyu during the latter's trip to Buenos Aires for the VII Community of Latin American and Caribbean States (Celac) Summit.

  • Thursday, January 26th 2023 - 10:02 UTC

    Argentine banks short of storage capacity to pile the rapidly depreciating Pesos

    Argentina’s largest denomination banknote – 1,000 pesos – is currently worth about US$ 5.40 at the official exchange, but barely reached US$ 2.65 in the real market

    Argentina has been plagued by economic and financial instability for years and years, and its overall situation has worsened considerably in recent years, with the country once again defaulting on its debt in 2020 and having been forced to turn to capital controls to protect its national currency.

  • Thursday, January 26th 2023 - 09:44 UTC

    Alberto Fernández meets with European Council President

    Michel believes Lula makes a difference regarding closer ties between the region and the European Union

    Alberto Fernández Wednesday met European Council President Charles Michel at Casa Rosada to discuss the importance of strengthening the bilateral agenda European Union and the Community of Latin American and Caribbean States (Celac).

  • Wednesday, January 25th 2023 - 18:58 UTC

    Lula in favor of Mercosur-China FTA

    “Despite the fact that Brazil is a great trade ally of China we want to talk about Mercosur discussing with our Chinese friends a Mercosur-China agreement,” Lula said

    Brazilian President Luiz Inácio Lula Da Silva said Wednesday in Montevideo that he agreed to open up Mercosur and pursue a free trade agreement (FTA) with China.

  • Tuesday, January 24th 2023 - 08:42 UTC

    A currency of South American circulation, “in the long term”

    They will also share the intention of creating, in the long term, a currency of South American circulation

    In the eighty plus Cooperation Declaration signed by Argentina and Brazil this Monday in Buenos Aires are included many different areas and topics, and one of them has been most promoted by the Argentine Media, very much sponsored by the current Fernandez-Kirchner administration, and refers to an alleged bilateral “common currency”.

  • Tuesday, January 24th 2023 - 08:30 UTC

    EU and Brazil address the 2007 strategic partnership and bilateral relations

    Acting president Gerardo Alckmin received EU Commission Frans Timmermans

    Brazilian Vice-President Geraldo Alckmin currently acting as President while Luiz Inácio Lula da Silva is in Argentina for the CELAC meeting, met in Brasilia with the Executive Vice-president of the European Commission Frans Timmermans to address deepening of bilateral relations, in the framework of the 2007 strategic partnership existent between the European Union and Latin America's largest economy .

  • Monday, January 23rd 2023 - 18:56 UTC

    Uruguay's FTA with China would endanger Mercosur, Vieira says

    Brazil will take over as pro tempore president of Mercosur in the second half of 2023, Vieira also underlined

    Brazil's Foreign Minister Mauro Vieira told Folha de Sao Paulo that a possible free trade agreement between Uruguay and China would endanger the future of the South American Common Market (Mercosur). In Vieira's view, such a move would contradict the bloc's integration policies.

  • Monday, January 23rd 2023 - 10:14 UTC

    Hopefully, CELAC will “help us deepen links with China”, Argentine president

    “China in the region acts respecting our logic and our policies. They have been most respectful with the country, and I am very grateful”.

    Argentine president Alberto Fernandez is confident that “Celac can help deepen links with China”, and strongly criticized the United States for “demonizing” the Asian giant. On Monday/Tuesday Argentina and president Fernandez will be hosting the Community of Latin American and Caribbean, CELAC, seventh summit of heads of state when all the leaders of the region are expected to attend, including the 'bad boys' of the club such as Nicolas Maduro from Venezuela, Cuban president Miguel Días Canel and Nicaragua's Daniel Ortega.