Economy

• Friday, May 6th 2022 - 09:09 UTC

  Bank of England combats inflation by increasing base rate interest to 1%

  

  The Bank of England on Thursday increased for the fourth consecutive time the base rate interest to 1% in an attempt to contain inflation and despite admitting the prospect of recession. The energy crunch, the Russian war in Ukraine, and lesser household incomes are expected to contribute to weaker growth.

• Thursday, May 5th 2022 - 19:47 UTC

  Car manufacturing in Argentina grows interannually

  

  Car manufacturing in Argentine recorded a substantial increase in April, according to the latest monthly report by the Association of Manufacturers (Adefa), making it the third consecutive month with a favorable output.

• Thursday, May 5th 2022 - 10:21 UTC

  Multi dimensional poverty conditions affect 25 million Argentines, 54,9% of the population

  

  Some 25 million Argentines, 54,9% of the whole population can be described as poor, following monetary criteria and simultaneously a multi-dimensional approach. This approach refers to such structural factors as housing, basic services, education, employment, and health attention.

• Thursday, May 5th 2022 - 10:15 UTC

  Markets react positively to Fed's rate increase and reduction of debt beginning June

  

  United States markets on Wednesday reacted positively to the Federal Reserve's 50 points basis rate increase, the first of such magnitude since 2000, to try and control inflation. Likewise stocks rallied on Fed chair Jerome Powell's announcement ruling out larger rate hikes and underscoring the possibility of a soft landing, avoiding a recession.

• Wednesday, May 4th 2022 - 22:07 UTC

  Uruguay's inflation stable in April but still above target figures

  

  Uruguay's interannual inflation during the month of April of 2022 reached nearly 9.4%, as prices rose below projections thanks to sharp decreases in fruits, vegetables, and meat.

• Wednesday, May 4th 2022 - 10:43 UTC

  Brazilian Foreign Minister met with his Uruguayan counterpart to discuss the “flexibilization” of Mercosur

  

  Uruguayan Foreign Minister Francisco Bustillo received on Tuesday his Brazilian counterpart Carlos França at the headquarters of the Ministry of Foreign Affairs in Montevideo to discuss, among other issues, Mercosur's flexibilization and the reduction of the common external tariff.

• Wednesday, May 4th 2022 - 09:58 UTC

  Chilean president rejects a chronic dole claimers system; mentions the Argentine example

  

  Chilean president Gabriel Boric did not have kind words for Argentina's social relief policy when explaining how his administration was going to address support policies in the post-pandemic period and current global war situation, propping the economy and creating jobs.

• Wednesday, May 4th 2022 - 09:04 UTC

  Beijing boasts Chinese companies purchase Russian coal and oil paying with Yuans

  

  Several Chinese companies purchased Russian coal paying in Chinese currency in March, and the first shipment would be made in April, according to Fenwei Energy Information Service Co., China’s leading information and service provider to the coal and coke industries. This is also the first shipment of Russian commodities paid in Yuan to arrive in China after Russia was sanctioned by Western countries.

• Tuesday, May 3rd 2022 - 09:55 UTC

  Argentina's Economy Minister in President Fernández's Achilles tendon

  

  As Argentina's inflation continues to grow with no end in sight and the news is that guidelines agreed upon with the International Monetary Fund (IMF) already need to be reviewed because they were based on a CPI that is no longer attainable, Economy Minister Martín Guzmán is beginning to take flak from friends and foes alike, casting doubts on his chances of remaining in office.

• Tuesday, May 3rd 2022 - 09:18 UTC

  Uruguayan exports on the rise

  

  Uruguayan exports including duty-free zones for the month of April totaled US$ 1.115 billion, according to the Uruguay XXI Institute's monthly report released Monday.