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MercoPress, en Español

Montevideo, April 5th 2025 - 04:19 UTC

Economy

  • Wednesday, December 18th 2024 - 22:17 UTC

    US dollar soars in Brazil amid fiscal uncertainty

    Haddad hopes the US dollar will settle down, eventually

    Amid uncertainty stemming from President Luiz Inácio Lula da Silva's planned measures, the US dollar soared Wednesday against the Brazilian real, hitting a new record of R$ 6.26 = US$ 1 while the stock market fell above 3%, also driven by the 0.25 percentage point interests cut by the US Federal Reserve (Fed).

  • Wednesday, December 18th 2024 - 10:59 UTC

    EU/Mercosur trade deal: How detrimental for Mercosur and how beneficial for EU farmers?

    EC President Ursula von del Leyen with Mercosur leaders, Argentina’s Javier Milei; Uruguay’s Luis Lacalle Pou; Lula da Silva, Brazil and Paraguay’s Santiago Peña. 

    A few days after European Commission President Ursula von del Leyen signed a long-pending trade agreement with four South American nations, French farmers were back on the streets dumping manure. This time they parked the tractors near the tunnel in Calais that goes through the English Channel, according to a report from German political and business analyst Uwe Hessler.

  • Wednesday, December 18th 2024 - 10:22 UTC

    Brazil: Selic rate expected to keep growing next year

    Yoy inflation reached 4.87%, slightly above the 3% (+/- 1.5%) target

    Brazil's Central Bank's (BCB) Monetary Policy Committee (Copom) said Tuesday in a document that further hikes to the basic interest rate (Selic) were not to be ruled out next year given the rise of the US dollar against the Brazilian real, which crossed the BR$ 6 / US$ 1 barrier after the fiscal package announced by the Government of President Luiz Inácio Lula da Silva in recent days negatively impacted the market.

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

    Moody's downgrades politically shaken France's credit rating

    The Chairman of the centrist Democratic Movement (MoDem) became Macron's fourth prime minister this year

    A politically shaken France has been downgraded by Moody's Investors Service from “Aa2” to “Aa3” and the country's long-term outlook went from “stable” to “negative” amid the ongoing “fragmentation” following the appointment of Prime Minister François Bayrou.

  • Monday, December 16th 2024 - 10:30 UTC

    Milei: “Taxes are theft”

    Milei insisted Meloni was a very courageous woman

    Argentine President Javier Milei said this weekend in an interview with the Italian TV Quarta Repubblica to be aired Monday that taxes “are theft.” The South American leader also insisted that “public spending cuts are not an unpopular measure.” Milei spent the weekend in Rome where he had a meeting with Prime Minister Georgia Meloni and participated in other business and political engagements.

  • Monday, December 16th 2024 - 07:29 UTC

    Paraguay soybean production reaches 11 million tons in 2023/24

    The total crop works out at an average yield of 3.000 kilos per hectare, according to the Paraguayan Chamber of Grain and Oilseed Exporters and Traders, Capeco.

    The 3.65 million hectares of soybeans planted in Paraguay, produced 11 million tons of the oil bean during the 2023/24 harvest season generating some US$ 4 billion for the landlocked country economy, which is among the top producers and exporters in the world.

  • Monday, December 16th 2024 - 07:00 UTC

    Two tough low growth years ahead for Germany, indicates the Bundesbank

    “The German economy is not only battling with persistent economic headwinds, but also with structural problems,” explained Bundesbank President Joachim Nagel (Pic FT)

    The German central bank, Bundesbank, drastically trimmed the economic forecast for Germany in the next two years, 2025 and 2026, given structural issues, including German industry facing significant economic obstacles and with grim prospects for the country’s exports.

  • Friday, December 13th 2024 - 10:17 UTC

    Milei off to Italy once again this year

    It will be Milei's sixth official encounter with Meloni

    Argentine President Javier Milei Thursday resumed his mileage accruing spree after departing for Rome to meet with Italy's Prime Minister Giorgia Meloni, among other engagements.

  • Thursday, December 12th 2024 - 09:23 UTC

    Argentina's Indec says inflation in November stood at 2.4%

    “Inflation in Argentina RIP,” said Presidential Spokesman Manuel Adorni

    Argentina's Consumer Price Index (CPI) went up 2.4% in November for a 166% year-on-year, the National Institute of Statistics and Census (Indec) announced Wednesday in Buenos Aires. It was the lowest figure since July 2020 when it reached 1.9%. The Libertarian Government of President Javier Milei welcomed the news: “Inflation in Argentina RIP,” said Presidential Spokesman Manuel Adorni.

  • Thursday, December 12th 2024 - 08:13 UTC

    Brazil hits new record in coffee exports

    Arabica remained the type of coffee topping shipments

    South America's largest country exported an all-time high amount of 46.3 million bags of coffee last month, Agencia Brasil reported citing data from the Brazilian Coffee Exporters Council (Cecafé) made available this week.