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MercoPress, en Español

Montevideo, October 1st 2026 - 21:00 UTC

Economy

  • Friday, October 6th 2023 - 10:50 UTC

    Argentina not to pay IMF maturities until after the elections

    Inflation in Argentina “is expected to reach 120% year-on-year by the end of 2023,” the IMF said

    Argentina will pay maturities worth US$ 2.6 billion to the International Monetary Fund (IMF) after the Oct. 22 presidential elections, it was reported Thursday in Buenos Aires. However, US$ 1.28 billion was due Friday, another US$ 640 million on Oct. 12, while a third payment of US$ 673 million was scheduled for the last working day of the month.

  • Friday, October 6th 2023 - 10:36 UTC

    The sky is the limit for the “blue” dollar in Argentina

    Unofficial exchange parlors were raided by the authorities Thursday

    As underground exchange parlors were raided Thursday, the “blue” (a euphemism for “black market”) dollar soared against the Argentine peso, it was reported in Buenos Aires.

  • Friday, October 6th 2023 - 10:13 UTC

    Moody's foresees Argentina's future between bad and worse

    The “worsening scenario” is not expected to change much if a runoff, scheduled for Nov. 19, is needed

    Regardless of who becomes Argentina's next president as of Decf. 10, 2023, Moody's foresees inflation in the South American country next year will reach 350%. The rating agency's “baseline scenario” scenario also contemplates an economic contraction of 3.5% by 2023, followed by another 2.5% next year, with prices climbing up to 25% each month.

  • Friday, October 6th 2023 - 08:45 UTC

    Brazil and China conduct a landmark trade operation in Yuan and Reais

    This milestone operation involved the export of pulp by Eldorado Brasil, a São Paulo-based company with a presence in Shanghai, China

    For the first time a trade operation between Brazil and China was conducted in a closed-loop system using local currencies, Yuans and Reais, without any involvement of US dollars. The transactions were financed and settled in yuan, directly converted into Brazilian real, without any involvement of the US dollar.

  • Thursday, October 5th 2023 - 10:59 UTC

    Brazil reports record trade surplus in September

    Brazilian exports are expected to remain stable in 2023 while imports are likely to fall by 11.5%

    Thanks to lower fuel imports and improved grain harvest results, Brazil's Ministry of Development, Industry, Trade, and Services this week announced a trade surplus of $8.904 billion for September 2023, a 51.2% improvement over the same month last year, Agencia Brasil reported.

  • Thursday, October 5th 2023 - 09:41 UTC

    Inflation in Uruguay within target

    The INE said the items that most affected the CPI were food and non-alcoholic beverages, and transportation. Photo: Sebastián Astorga

    Inflation in Uruguay fell again in September for the fifth consecutive month, reaching 0.61% for a year-on-year total of 3.87%, according to a National Statistics Institute (INE) report released Wednesday in Montevideo.

  • Thursday, October 5th 2023 - 09:20 UTC

    Blue dollar knows no ceiling in Argentina

    Since it was launched on May 22, the AR$ 2,000 bill lost around 66% of its value against the “blue” dollar

    The “blue” (a euphemism for “black market”) US dollar closed at AR$ 843 Wednesday after touching AR$ 850 at some point during the day, it was reported in Buenos Aires. The new quotation at the end of the day was AR$ 36 higher than Tuesday's and meant an AR$ 497 increase so far in 2023 after reaching AR$ 346 at the end of 2022. Hence, the new gap with the official exchange rate stood at 141.4%.

  • Wednesday, October 4th 2023 - 10:32 UTC

    Uruguay beef exports down 31% in seven months; suppliers are targeting the domestic market with 30% rebates

    In the seven month period, January/July, Uruguay exports overall decreased by 31% compared to the same period in 2022, mainly explained by lower demand from China.

    Beef exports from Uruguay were down 19% in July 2023 compared to last year, according to the Uruguay XXI report. Exports in July totaled US$ 144 million, below the US$ 177 million reached in the same month last year.

  • Wednesday, October 4th 2023 - 10:30 UTC

    Brazil to drastically cut dairy imports from Mercosur and ease taxes to promote domestic production

    Dairy Imports from Mercosur countries more than doubled in twelve months

    Brazil is planning to curb dairy imports from Mercosur countries. In the next few days, a decree will be published that will change the rules for tax benefits for dairies, agro-industrial companies, and cooperatives that participate in the Ministry of Agriculture’s milk program PMLS. The objective is to reduce tax incentives for companies that purchase dairy products from abroad.

  • Wednesday, October 4th 2023 - 09:55 UTC

    Argentina: “Blue” dollar hits new all-time high

    The BCRA sold reserves Tuesday after 35 straight days of purchases

    The “blue” (a euphemism for “black market”) dollar rose AR$ 10 Tuesday and sold for AR$ 810, thus setting a new record, it was reported from Buenos Aires.