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MercoPress, en Español

Montevideo, April 18th 2024 - 23:00 UTC

Economy

  • Monday, August 31st 2009 - 07:48 UTC

    Wheat production is Argentina down, and booming in Brazil

    Argentina a traditional supplier of wheat to Brazil this coming crop will have no surplus to export

    Helped by the Argentine administrations of the Kirchner couple, Brazil is catching up with Argentina as Latinamerica’s main producer of wheat. This year Brazil will be planting only 200.000 hectares less than its Mercosur partner which this winter crop is down to 2.75 million hectares.

  • Monday, August 31st 2009 - 07:46 UTC

    China surpasses Germany as the world’s largest exporter

    Chinese exports have increased at an average 25% since 2000

    China has become the world's largest exporter surpassing Germany, the World Trade Organization has said. China displaced Germany, which held the No.1 slot since 2003, by a slim margin of 100 million US dollars after exporting goods worth 521.7 billion USD in the first half of 2009.

  • Sunday, August 30th 2009 - 22:28 UTC

    China's Policy Paper on Latin America and the Caribbean

    On November 5, 2008, the Chinese government released a policy paper on Latin America and the Caribbean, as it had previously done so for Europe in 2003 and for Africa in 2006.

  • Saturday, August 29th 2009 - 10:06 UTC

    IMF injects 283 billion SDR to boost world economy

    SDR can be voluntarily exchanged for hard currencies, such as the US dollar, euro, yen, or pound sterling, through voluntary trading arrangements with other IMF member countries

    With much of the world still mired in recession, the IMF took action to bolster its members’ reserves through an allocation of SDRs, or Special Drawing Rights. The allocation, equivalent to 250 billion USD was made on August 28 and will be followed by an additional, albeit much smaller, allocation of 33 billion on September 9.

  • Saturday, August 29th 2009 - 10:01 UTC

    Chile has the lowest inflation rate in Latinamerica

    Venezuela is at the other end of the list with 15% inflation in seven months

    International banking authorities reported this week that Chile has the lowest inflation of any Latin American country, with an accumulated rate of -1.2% through July.

  • Saturday, August 29th 2009 - 09:56 UTC

    Economy minister confirms Argentina warming up to IMF

    Amado Boudu, “50%/50% chance” that article IV auditing will effectively occur

    Economy Minister Amado Boudou said Argentina is a member of the International Monetary Fund and the government is trying to participate and establish a new relation but “giving Argentina's own perspective to decide where the IMF must head to.”

  • Saturday, August 29th 2009 - 09:40 UTC

    Bad, but good news from the UK economy: decline easing

    The UK annual drop of 5.5% remains the biggest since records began in 1955.

    The rate of contraction of the UK economy in the three months from April to June has been reduced by the Office for National Statistics (ONS). Gross domestic product (GDP) has been revised to a fall of 0.7% from 0.8% compared with the previous quarter.

  • Friday, August 28th 2009 - 19:48 UTC

    Spanish economy keeps contracting in the second quarter: down 1.1%

    Economy Secretary Campa expects Spain to rebound in the second quarter of 2010

    The Spanish economy shrunk more than expected in the second quarter in contrast with signs of recovery in France and Germany, according to the latest release from the Statistics Institute. Second quarter GDP contracted 1.1% quarter-on-quarter, a slight improvement on the first quarter when the economy shrunk 1.6%, mostly due to a hefty state stimulus spending plan.

  • Friday, August 28th 2009 - 19:45 UTC

    Number of problem US banks the highest in 15 years

    FDIC chairman Sheila Bair

    The number of problem US banks rose to the highest level in 15 years between April and June, the industry's regulator has revealed. The Federal Deposit Insurance Corporation (FDIC) said 416 banks had failed its test criteria during the quarter, up 111 from January to March.
    It added that 81 US banks had now been forced to close this year.

  • Thursday, August 27th 2009 - 15:43 UTC

    Latam foreign trade forecasted to plunge a record 13% this year

    Cepal Director Alicia Barcena says the region should prepare for when full –recovery

    Latin American and Caribbean countries total volume of trade is expected to fall 13% in 2009 from the previous year due to the impact of the global economic crisis, according to a report from the United Nations' economic commission for the region, Cepal.