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MercoPress, en Español

Montevideo, September 21st 2023 - 18:37 UTC

Economy

  • Friday, September 8th 2023 - 10:51 UTC

    Argentina: Export taxes lifted from industrialized agriculture products

    There are no magical recipes, Massa argued

    Argentina's Economy Minister and presidential candidate Sergio Massa Thursday announced the lifting of all export taxes to the sales abroad of regional economy products with added value, it was reported in Buenos Aires. The measure favors the agro-industrial sector which features over 1,200,000 registered workers.

  • Friday, September 8th 2023 - 10:01 UTC

    Investments That Pay Off: Latin America’s Response to Recent Global Shocks

    “This time it wasn't us,” Guillermo Ortiz, then governor of Mexico’s central bank, said at the 2008 start of the global financial crisis.

    By Rodrigo Valdes, IMF Director of the Western Hemisphere Department

    The region, which successfully navigated economic turmoil, now must boost inclusive growth, reduce debt, and capitalize on new opportunities. Praise for policies implemented by the LA5 Brazil, Chile, Peru, Colombia, Mexico and also Uruguay, Dominican Republic, Paraguay and Costa Rica.

  • Thursday, September 7th 2023 - 11:17 UTC

    Bilateral trade shows Argentina's growing dependence on neighboring Brazil

    During August Argentina had a negative trade balance with Brazil, US$ 292 million, for the eighth consecutive month

    Overwhelmed by its financial problems and lack of foreign currency, which seriously limits international trade, there is an increasing position among some Argentine government theorists that Brazil's better performance could help its Mercosur partner with loans and other credit instruments to keep the country's activity going and safeguarding jobs.

  • Thursday, September 7th 2023 - 10:39 UTC

    ECLAC's outlook for the region is grim, but better than in April

    Salazar-Xirinachs spoke of a disease of low growth

    The latest report from the Economic Commission for Latin America and the Caribbean (ECLAC) released Tuesday in Santiago foresees low regional growth for at least the next two years. For 2023, the organization projects a 1.7% increase in the Gross Domestic Product (GDP) while in 2024 it would fall to 1.5%, while the world's GDP is expected to grow by 3% in 2023 and 2024, down from 3.5% in 2022.

  • Thursday, September 7th 2023 - 10:08 UTC

    Bank of England says interest rates are close to their peak, but could inch further

    The Bank has hiked rates 14 times in a row as it tries to slow the fastest pace of price rises among the world's big economies

    Bank of England Governor Andrew Bailey has said interest rates are close to their peak, but that they may still have further to rise. He told MPs on Wednesday “we are much nearer now to the top of the cycle” of rate rises.

  • Wednesday, September 6th 2023 - 11:06 UTC

    Car manufacturing continues to grow in Argentina

    Argentina's automotive industry celebrated the production of the 20 Millionth unit last month, Galdeano said

    Car manufacturing in Argentina grew year-on-year, according to a report released Tuesday by the Association of Automotive Manufacturers (Adefa), which showed production reached 408,486 units, 19.5% higher than the 341,788 units from the same period of 2022. Adefa also said 63,455 vehicles were built in August, 17.4% more than in the same month of 2022 and 28.8% above July's figures.

  • Wednesday, September 6th 2023 - 10:40 UTC

    Chile's Central Bank lowers interest rate to 9.5%

    The dollar has strengthened, long-term rates have increased and stock markets have fallen, the Chilean monetary authority said

    Chile's Central Bank Council agreed unanimously Tuesday to lower the basic interest rate from 10.25 to 9.5% given the reduction in global inflation, it was reported in Santiago.

  • Tuesday, September 5th 2023 - 10:23 UTC

    Panama Canal congestion: “skipping the queue immensely costly”; east South America suffering

    “You can skip the queue but it’s immensely costly,” said Oystein Kalleklev, Avance Gas’s CEO. ”When you add the regular fee you’re getting close to US$ 3m to get your ships through.”

    Vessels in queue for transit across the Panama Canal stood at 128 ships on September first, some 42% above the 90 average, but 21% below the figure a month ago. While container ships, which have fixed schedules, tend to have reserved slots, the voyage plans for the tramp trades continue to be hit hard by the ongoing congestion brought about by drought and subsequent draft and transit restrictions put in place by the Panama Canal Authority (ACP).

  • Monday, September 4th 2023 - 07:38 UTC

    Brexit tariffs, not the EU’s Malvinas blunder, are the real issue worrying Falkland Islanders

    Goods imported into the EU from the Falkland Islands (such as squid), for the first time, are now subject to the EU’s common external tariff. ( Pic GETTY IMAGINE)

    Boris Johnson’s deal made no provision for exports from the UK overseas territories

    By Teslyn Barkman (*) – In July, a joint communiqué signed in Brussels by 60 European Union and Latin American nations referred to the Falkland Islands as the “Islas Malvinas” despite last-minute attempts by UK foreign secretary James Cleverly to persuade them to drop the reference.

  • Monday, September 4th 2023 - 07:25 UTC

    Uruguay to resume meat exports to Mexico

    “The Mexican market has always been relevant for Uruguayan meat production,” Buffa said

    Uruguay announced the resumption of meat exports to Mexico after three years, with 22 slaughterhouses authorized to sell beef and sheep meat to that country for the next two years, it was reported in Montevideo.