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MercoPress, en Español

Montevideo, April 6th 2025 - 02:20 UTC

Economy

  • Tuesday, October 22nd 2024 - 20:49 UTC

    IMF foresees prosperous 2024 for Paraguay

    Argentina is at the bottom of the IMF's list, with GDP expected to contract by 3.5%

    According to the International Monetary Fund's (IMF) “World Economic Outlook” report released Tuesday in Washington DC, Paraguay is the country in the region that will grow the most this year with a projected Gross Domestic Product (GDP) of 3.8%, way above South America's 1.8% average. Following Paraguay is Uruguay's 3.2% GDP, with Brazil, Peru, and Venezuela tied at 3%. Argentina ranks at the bottom of the list (-3.5%).

  • Tuesday, October 22nd 2024 - 09:13 UTC

    Milei reshapes Tax Bureau, blends it with Customs

    The move entails a 15% staff downsizing and a significant salary cut for the higher-ranking officials, explained Adorni

    The Argentine Government of President Javier Milei announced Monday that it was dissolving the Federal Administration of Public Revenues (AFIP), which is to be replaced by a simplified agency known as ARCA which will also assume Customs functions.

  • Monday, October 21st 2024 - 20:15 UTC

    Falklands Government extends Rockhopper's Petroleum Production Licenses to December 2026

    Rockhopper CEO Sam Moody commented: ”We are pleased to have extended the licenses, enabling us to continue progressing our work in the Falkland Islands.”

    Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin announced that, following discussions with the Falkland Islands Government, FIG has agreed to extend all of the Company’s North and South Falkland Basin Petroleum Production Licenses meaning that the licenses will now run until the 31 December 2026.

  • Saturday, October 19th 2024 - 10:10 UTC

    Bolivia's economy seriously hit by Evistas blockading roads

    “The only thing they are doing is harming the distribution and logistics of products,” Siles also pointed out

    Four days into the road-blockading protests staged nationwide by followers of former President Evo Morales, Government sources said Friday that up to US$ 1.5 billion worth of exports had been affected by the move. In addition, private entrepreneurs have also complained about the damages caused to them by the populist defense of the former head of state under prosecution for rape and human trafficking.

  • Friday, October 18th 2024 - 10:35 UTC

    Uruguayan productive lands changing hands rapidly

    Between January and August, foreign capitals mostly from the United States, Japan, Brazil, and Argentina bought 135,888 hectares

    Uruguayan productive lands were said this week in Montevideo to be changing hands at a faster pace in the first six months of 2024 as the number of hectares traded doubled year-on-year according to the Agriculture and Livestock Ministry's (MGAP) “Price of land” report.

  • Friday, October 18th 2024 - 09:35 UTC

    Indec: Argentina's wholesale inflation up 2% last month

    Milei said on X that his government was “taming” inflation

    Argentina's National Institute of Statistics and Census (Indec) released a study Thursday according to which wholesale prices went up only 2% last month, it was reported in Buenos Aires. President Javier Milei celebrated the news and praised Economy Minister Luis Toto Caputo for it.

  • Thursday, October 17th 2024 - 12:27 UTC

    Brazil expects a new record crop 2024/25, with rice experiencing the largest area growth

    Rice sowing boom in several Brazilian states

    The first estimate for the coming 2024/25 grains crop in Brazil indicates a total production of some 322,47 million tons, according to Conab, the country's national supply corporation. If finally confirmed this would represent another record production, with a 8,3% increase over the previous 2023/24 harvest, equivalent to 24,6 million tons.

  • Thursday, October 17th 2024 - 11:36 UTC

    Paraguay's Central Bank ups growth projections for 2024

    “No significant imbalances are observed that could divert inflation from the expected trajectory,” the BCP stated

    Paraguay's Central Bank (BCP) has this week upped the South American country's economic growth projection for this year from 3.8% to 4%. On the supply side, the main upward revisions were in the livestock, trade, and tax sectors, while downward adjustments were recorded in electricity and water amid higher domestic demand in line with the good dynamics imports have been registering.

  • Thursday, October 17th 2024 - 06:13 UTC

    Panama Canal posts significant setback in FY2024

    The number of crossing vessels was cut down from 38 to 22 on average between July 2023 and May 2024

    The Panama Canal Authority (ACP) reported this week a 29.3% drop in passing ships during Fiscal Year 2024 as a result of the severe drought affecting the interoceanic crossing. A total of 9,944 transits were recorded this year, a significant setback from 14,080 crossings in 2023. A fiscal year runs from October 1 to September 30 of the following year.

  • Monday, October 14th 2024 - 22:06 UTC

    Trio granted Economics Nobel Prize for delving into development asymmetries

    This year's winners came as no surprise within Economics circles

    Three researchers who delved into the asymmetries of how countries prosper differently were awarded the Economics Nobel Prize Monday, thus closing this year's round of announcements ahead of the Dec. 10 award ceremonies in Stockholm.