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MercoPress, en Español

Montevideo, November 21st 2024 - 20:20 UTC

Economy

  • Saturday, July 13th 2024 - 10:22 UTC

    Argentina tops list of LatAm countries with the highest inflation for the 9th straight month

    The CPI went up 4.6% while all the other countries recorded variations below one digit.

    Argentina was found to boast the dubious honor of topping the list of Latin American countries with the highest inflation for the ninth month in a row after Friday's release by the National Institute of Statistics and Census (Indec) of the latest report regarding June's figures. The CPI went up 4.6% while all the other countries recorded variations below one digit.

  • Saturday, July 13th 2024 - 09:16 UTC

    IBGE finds 2% interannual growth in services

    The IBGE recorded no overall changes between April and May

    Services in South America's largest country grew 2% interannually in the first five months of 2024, according to a report released Friday by Brazil's Institute of Geography and Statistics (IBGE). Over the past 12 months through May, the index rose 1.3%. The sector accounts for about 70% of the country's gross domestic product (GDP). The sector also grew by 2.3% last year, making it the third in a row with positive figures.

  • Saturday, July 13th 2024 - 08:02 UTC

    Indec says Argentina's CPI in June reached 4.6%

    In this scenario, the “blue” dollar hit a new all-time high

    The Consumer Price Index (CPI) reached 4.6% last month in Argentina for a year-on-year 271.5%, according to a National Institute of Statistics and Census (Indec) survey released Friday. These figures also yielded a 79.8% increase in the first semester of 2024.

  • Saturday, July 13th 2024 - 07:21 UTC

    BBVA planning to leave Argentina?

    Successive economic hardships have affected profits in the banking industry; hence BBVA is said to have lost interest in Argentina

    Buenos Aires' financial circles are preparing for yet another departure of a banking giant from the South American country, according to leading economics reporter Mariano Gorodisch who hinted that BBVA would follow in HSBC's footsteps.

  • Friday, July 12th 2024 - 07:03 UTC

    Brazil speeds trade agreement with Palestine in the framework of Mercosur

    The latest Mercosur summit took place this week in Asunción, Paraguay when the rotating six month presidential chair went to Uruguay.

    This week Brazil deposited its instrument of ratification of the Free Trade Agreement between Mercosur and Palestine, which means the treaty is to come into force, between Brazil and the Palestine Administration, in thirty days. The instrument was deposited at last moment to Mercosur member Paraguay on July 3, when this country was still chair of the South American trade block. The information was released by the Brazilian Ministry of Foreign Relations. The following day the rotating presidency of Mercosur was handed to Uruguay.

  • Thursday, July 11th 2024 - 21:40 UTC

    Uruguay faces persistent fiscal deficit: Levels match end of previous administration

    The Ministry of Economy, led by Azucena Arbeleche (right), has explained that the unexpected drop in inflation, which ended 2023 at 5.1%, impacted fiscal revenues, particularly VAT collection

    The fiscal deficit in Uruguay has reached levels comparable to those at the end of the previous leftist Frente Amplio's administration, posing a significant challenge to the current government a few months before the next elections. The latest data, adjusted for extraordinary factors such as the pandemic, indicates that the consolidated fiscal deficit stands at 4.4% of GDP, mirroring the 2019 figures.

  • Thursday, July 11th 2024 - 19:17 UTC

    Buenos Aires the best city in the region, The Economist finds

    Founded in 1580, the Argentine capital topped the list for the third consecutive year

    Buenos Aires was once again picked by The Economist as the most liveable city in South America according to the outlet's usual scale measuring environmental, cultural, and infrastructural issues in addition to stability and medical care. The Argentine capital topped the list for the third year in a row, standing out for its highly regarded UBA (University of Buenos Aires) among other perks.

  • Wednesday, July 10th 2024 - 21:32 UTC

    Paraguay making across-the-border shopping easier

    We want more foreigners coming to buy in Paraguay, Orué explained

    Paraguayan authorities enacted a mechanism whereby foreign shoppers, particularly those living in Argentine across-the-border twin cities, would benefit from tax deductions and other advantages, it was announced this week.

  • Wednesday, July 10th 2024 - 20:31 UTC

    Brazil: Some retail prices show sharp increases in June

    Fewer public holidays in June drove airline ticket prices down, an IBGE expert explained

    June's inflation in Brazil recorded a sharp increase due to significant adjustments in the retail price of potatoes (14.9%) and long-lasting milk (7.43%) among other items, Agencia Brasil reported Wednesday citing the latest Broad National Consumer Price Index (IPCA) released by the Brazilian Institute of Geography and Statistics (IBGE).

  • Tuesday, July 9th 2024 - 10:08 UTC

    Unfair taxation in LatAm and Caribbean hits the poorest harder

    Taxes on large fortunes in the region could generate additional revenue for the region as a whole of up to US$ 264 billion, Oxfam believes

    A study released last week by Oxfam, a global movement seeking to end the injustice of poverty, found that the two wealthiest men in Latin America and the Caribbean owned more than 334 million others in the region.