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MercoPress, en Español

Montevideo, April 5th 2025 - 04:22 UTC

Economy

  • Friday, December 27th 2024 - 19:43 UTC

    Supermarket sales keep dropping in Argentina

    The Indec also reported a constant process of higher indebtedness by the average consumer

    Argentina's National Institute of Statistics and Census (Indec) released Thursday a report mentioning that supermarket sales fell 17.8% yoy in October as consumption continues to fall. Sales in shopping malls and wholesalers also dropped.

  • Friday, December 27th 2024 - 10:07 UTC

    IMF approves US$245 million disbursement for Paraguay

    The IMF found that economic activity in Paraguay “continues to be dynamic.”

    After concluding the fourth review of the Policy Coordination Instrument (PCI) with Paraguay as well as the second one on the Resilience and Sustainability Facility (SRS), the International Monetary Fund (IMF) approved a disbursement of US$186.28 million in Special Drawing Rights (SDRs) representing nearly US$ 245 million to help the South American country's green energy matrix expansion.

  • Thursday, December 26th 2024 - 08:35 UTC

    Argentine meat exports to Philippines approved

    The two countries also agreed on a reciprocal control and certification scheme

    Argentina has been cleared to start poultry, pork, beef cuts on the bone, and gibblets to the Philippines through an agreement also contemplating reciprocity between the two countries' control and certification systems, which will speed future approvals, it was announced in Buenos Aires.

  • Monday, December 23rd 2024 - 22:19 UTC

    Nissan and Honda sign MOU toward merger by 2026

    ”It is necessary to make a bolder change than a collaboration in specific areas,” Mibe said

    It was more than rumors that Japanese automotive giants Nissan and Honda were eyeing a merger by 2026 which would revolutionize the industry with the appearance of what in Reuters' view would be the third-largest auto group worldwide. The two companies signed a memorandum of understanding whereby discussions about integration via a joint holding company would go on during 2025, it was announced. Earlier this month, Nissan's CEO Makoto Uchida admitted that the company's situation was “severe.”

  • Monday, December 23rd 2024 - 10:59 UTC

    Trump picks Claver-Carone for State Dept. Latin American branch

    Claver-Carone has spoken the truth about Milei's “miraculous” recovery

    US President-elect Donald Trump announced Sunday he had chosen former Inter-American Development Bank (IDB) Mauricio Claver-Carone as his future State Department's Envoy to Latin America. The Cuban-born Claver-Carone was appointed to the IDB at Trump's request in 2020 but was dismissed amid an affair with a subordinate whom he had given a pay raise.

  • Saturday, December 21st 2024 - 10:55 UTC

    Indec says Argentina's economy contracted 2.7% through October

    Milei says the recession is over

    A report released Friday by Argentina's National Institute of Statistics and Census (Indec) showed that the country's economic activity fell by 0.7% in October for an accumulated 2.7% interannual contraction in the first ten months of 2024, driven particularly by fishing (-49.9%) and construction (-14.5%) amid President Javier Milei's austerity plans which included halting all public works.

  • Friday, December 20th 2024 - 10:30 UTC

    Brazil's real recovers against US dollar

    Brazil's Central Bank sold US$ 5 billion to stabilize the exchange rate

    Brazil's Central Bank (BCB) successfully maneuvered Thursday and got the US dollar to fall against the local real after volatility gripped financial markets amid President Luiz Inácio Lula da Silva's planned taxation reforms, Agencia Brasil reported. The US currency closed at R$ 6.12 following Congressional approval of the Government's legal package.

  • Friday, December 20th 2024 - 10:17 UTC

    Bank of England leaves rate unchanged at 4.75%, but inflation is increasing with a no economic growth in 2024

    Three members of the Bank’s Monetary Policy Committee voted for a rate reduction, while six insisted in keeping them on hold.

    The Bank of England on Thursday left interest rates unchanged at 4.75%, despite an inflation rate that reached an eight-month high, pushed by services and wage increases. However three members of the Bank’s Monetary Policy Committee voted for a rate reduction, while six insisted in keeping them on hold.

  • Thursday, December 19th 2024 - 22:03 UTC

    IMF admits new loan to Argentina under consideration

    “A recovery in economic activity and real wages is now firmly underway” in Argentina, Kozack said

    International Monetary Fund (IMF) Spokeswoman Julie Kozack admitted Thursday that “talks are underway” to grant Argentina a new loan. The South American country is reportedly eligible for such a disbursement given the impressive achievements of President Javier Milei's “chainsaw” adjustment policies. The program currently in force ends this year and Argentina still owes around US$ 1 billion.

  • Thursday, December 19th 2024 - 09:11 UTC

    Uruguay: Unemployment falls in November

    Underemployment and informal work will pose a challenge for President-elect Orsi

    Unemployment in Uruguay fell to 7.2% of the Economically Active Population (EAP) last month, which represented a slight improvement from October’s 7.3%, according to the latest report from Montevideo's National Statistics Institute (INE) this week. It was the lowest figure since December 2021.