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MercoPress, en Español

Montevideo, November 22nd 2024 - 16:52 UTC

Economy

  • Friday, April 26th 2024 - 10:56 UTC

    Brazil to discourage steel imports?

    The measure still needs to be greenlighted by Brazil's Mercosur partners

    Brazilian authorities announced this week that new measures will be in force concerning the import of steel products. In a move to discourage such practices, goods exceeding the quota of 11 items will be charged higher taxes, Agencia Brasil reported. In other words, if the maximum volume is exceeded, the import duty, currently ranging between 9% and 14.4%, will reach 25%, the Chamber of Foreign Commerce explained. The initiative seeks to prevent unfair competition with domestic steel.

  • Tuesday, April 23rd 2024 - 10:33 UTC

    Milei praises his own administration for its financial surplus

    “Inflation is theft. Zero deficit is a commandment,” Milei insisted

    Argentine President Javier Milei Monday highlighted his administration's performance bringing about a financial surplus worth AR$ 276.638 billion (US$ 276.638 million), which constituted a “historical feat.” He also said this achievement of three consecutive surplus-yielding months -something unheard of since 2008- was possible thanks to his administration's “chainsaw” policies cutting State expenditures. Argentina's economic performance fell well within the goals agreed upon with the International Monetary Fund (IMF).

  • Monday, April 22nd 2024 - 12:43 UTC

    Milei to announce his achievements on nationwide TV

    The message will be recorded at the Olivos presidential residence earlier in the day and aired at 9 pm to draw peak audiences

    Argentine President Javier Milei is to speak on national TV on Monday announcing the achievements of his economic plan. According to Buenos Aires media citing Casa Rosada sources, alongside Milei will be Economy Minister Luis 'Toto' Caputo, Finance Secretary Pablo Quirno, and Central Bank (BCRA) President Santiago Bausili.

  • Monday, April 22nd 2024 - 12:28 UTC

    Downward revision reported for Argentine 2024 agricultural exports

    “Although a gradual recovery is expected, uncertainty persists,” the BCR said

    Argentina's 2024 exports of soybean, corn, wheat, sunflower, and barley have been projected to reach barely US$ 29.3 billion, which would represent a US$ 5.7 billion recovery from 2023 but a US$ 1.7 billion slump compared to the last five years' average, the Grain Stock Exchange in Rosario (BCR) announced in its latest Guía Estratégica para el Agro (GEA) report. The new figures represent an 18% downward revision from December's calculations.

  • Saturday, April 20th 2024 - 10:55 UTC

    Milei says conditions for Argentina's recovery being created

    The Argentine President warned businesspeople that they would have to pick up the baton from here

    Argentine President Javier Milei Friday told a group of businesspeople attending the Llao Llao Forum in Bariloche that he did not believe in a “dirigist” economy in which the State would be involved in every step along the productive process. He also insisted his administration was “creating the conditions for Argentina to grow again” from “the worst crises in history.”

  • Friday, April 19th 2024 - 21:14 UTC

    Brazil's Finance Minister hopes G20 will tax the super‑rich to tackle world's debt crisis

    Haddad recalled that Biden's government was holding thoughts along the same lines regarding the wealthiest people

    During his trip to Washington DC to attend International Monetary Fund (IMF) and World Bank (WB) engagements, Brazil's Finance Minister Fernando Haddad said he hoped the G-20 would approve later this year a new taxation for the planet's super-rich so that the global economy could adjust amid an unprecedented debt crisis, Agencia Brasil reported.

  • Thursday, April 18th 2024 - 10:41 UTC

    Argentina's Economy Minister foresees 1-digit monthly inflation imminent

    Milei's popularity is not increasing but that of the opposition is sliding, Caputo explained

    Argentina's Economy Minister Luis 'Toto' Caputo insisted Wednesday in Washington DC during his participation at the International Monetary Fund's (IMF) Spring Meeting that his country would be achieving a one-digit inflation rate shortly.

  • Wednesday, April 17th 2024 - 10:55 UTC

    IMF says Argentina improving but results not expected this year

    Milei has applied tight constraints to recover from the fiscal deficit under Alberto Fernández

    According to the World Economic Outlook released Tuesday by the International Monetary Fund (IMF), Argentina's inflation in 2024 is expected to reach 149.4%. The study also forecasted that the country's economy would fall by 2.8% this year only to bounce back in 2025 by 5%. The Consumer Price Index (CPI) would be dropping to 45%.

  • Wednesday, April 17th 2024 - 10:36 UTC

    Business forum in Bariloche to be attended by Presidents of Uruguay, Argentina, and Paraguay

    Milei attended last year's gathering as a candidate. Hotel Llao LLao

    Presidents Javier Milei of Argentina, Luis Lacalle Pou of Uruguay, and Santiago Peña of Paraguay are expected to be the three most important participants of the so-called Llao Llao Forum starting Wednesday in the Patagonian resort of Bariloche in the Argentine province of Río Negro.

  • Wednesday, April 17th 2024 - 09:49 UTC

    German and French economies slowing down in 2024, IMF report

    The German economy is expected to grow by 0.2%, which is 0.3 percentage points less than it estimated in its January outlook

    Europe's strongest economy is expected to grow by 0.2%, 0.3 percentage points less than it estimated in its January outlook, according to the latest report from the International Monetary Fund, IMF, on Germany. This is also the weakest among the G7 group of industrialized nations.