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MercoPress, en Español

Montevideo, November 22nd 2024 - 11:23 UTC

Economy

  • Tuesday, May 7th 2024 - 19:43 UTC

    FMI foresees rebound in Uruguay's economy

    According to the IMF, “continued vigilance of monetary policy is crucial”

    The Washington-based International Monetary Fund (IMF) released a report this week forecasting a “strong rebound” in Uruguay's economy this year. Driven by a surge in agricultural exports amid “balanced” macroeconomic risks, a 3.7% growth has been projected.

  • Tuesday, May 7th 2024 - 19:19 UTC

    Argentina is the promised land for businesspeople, Milei says

    “Argentina is becoming a freer country day by day,” Milei insisted

    Argentine President Javier Milei told attendees at the Milken Institute's Global Conference in Beverly Hills that his country “has all the conditions to be the new Mecca of the West” and asked businessmen to help build “the new Rome of the 21st Century.”

  • Tuesday, May 7th 2024 - 18:57 UTC

    Paraguay: Waterway master plan called for amid discouraging weather forecast

    The Paraguay-Paraná Waterway is fundamental for Paraguay's foreign trade

    Water levels below average at the Paraná-Paraguay river waterway have traders concerned over the future of their business. However, there seems to be consensus on the need to develop a master plan to tackle the grim situation stemming from discouraging precipitation forecasts despite abundant rainfall in recent weeks.

  • Tuesday, May 7th 2024 - 14:52 UTC

    Argentina introduces 10,000 peso banknotes amid soaring inflation

    Argentina suffers from high inflation – 287.9 % annualized last March – which requires the use of higher denomination banknotes to reduce logistic costs and facilitate transactions. “

    Argentina has introduced a new denomination of banknotes, the 10,000 peso bill (equivalent to about 10 U.S. dollars), in response to the country's ongoing struggle with high inflation. The Central Bank of Argentina (BCRA) announced that these new banknotes will gradually enter circulation starting this Tuesday and be available at bank branches and ATMs nationwide.

  • Monday, May 6th 2024 - 20:34 UTC

    After EU June elections, agreement with Mercosur can be reached: “A matter of time and timing”, EU negotiator

    For Rupert Schlegelmilch, the agreement with Mercosur “is a complicated process but it is a also matter of time and timing”

    The Mercosur/European Union trade and cooperation agreement, “is a complicated process but it is also a matter of time and timing”, according to Rupert Schlegelmilch, chief EU negotiator of the accord who recently visited Mercosur country and associate members to meet government officials and business groups to confirm EU's determination to finish the deal.

  • Monday, May 6th 2024 - 20:26 UTC

    UK growth to remain sluggish this year, 0,4% and improving in 2025, OECD report

    UK growth to remain sluggish this year, 0,4% and improving in 2025, OECD report

    The United Kingdom GDP growth is projected to remain sluggish at 0.4% in 2024 before improving to 1.0% in 2025, reflecting the waning drag from past monetary tightening, according to the latest report from OECD, Organization for Economic Cooperation and Development.

  • Saturday, May 4th 2024 - 10:59 UTC

    Japanese PM discusses Mercosur FTA with Paraguay's President

    Kishida underlined that Paraguay was a reliable partner

    Paraguayan President Santiago Peña and Japan's Prime Minister Fumio Kishida met Friday in Asunción to strengthen bilateral ties as well as to further discuss a free trade agreement (FTA) with the Southern Common Market (Mercosur). Peña, who holds the group's rotating presidency, expressed in a statement his “fervent desire” to “move forward with a free trade agreement between Mercosur and Japan.”

  • Friday, May 3rd 2024 - 10:59 UTC

    Uruguay: Exports grow 27% interannually in April

    Live cattle recorded a 740% growth from US$ 4 million to US$ 31 million

    According to a study from the government's Uruguay XXI Institute released Thursday in Montevideo, the South American country's exports of soybeans, beef, live cattle, and cellulose drove the total sales abroad to a 27% growth in April from last year's figures during the same month and a 5% increase in the first third of 2024.

  • Thursday, May 2nd 2024 - 19:39 UTC

    Argentina's BCRA again lowers basic interest rates in less than one week

    It was the fifth cutdown since the Libertarian administration of President Javier Milei took office in December last year

    Argentina's Central Bank (BCRA) once again lowered the benchmark interest rate from 60% to 50%. It was the fifth cutdown since the Libertarian administration of President Javier Milei took office in December last year. Thus, yields from fixed-term deposits will fall monthly from the current 5% per month to 4.2% for an annual effective rate of 64.8%.

  • Thursday, May 2nd 2024 - 19:11 UTC

    Argentina: Drop in retail prices expected soon

    Caputo agreed with executives from the main supermarket chains that imported goods would help lower the retail prices

    In line with President Javier Milei's chainsaw politics to curb inflation, Argentine supermarkets expect a drop in retail prices shortly once imported items arrive to compete with local production as agreed upon with the Economy Ministry in March, it was reported in Buenos Aires.