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MercoPress, en Español

Montevideo, May 23rd 2025 - 09:52 UTC

Economy

  • Thursday, May 8th 2025 - 17:54 UTC

    US, UK reach trade deal marking Washington's openness to business

    The new deal includes the lifting of a 25% tariff on UK steel

    President Donald Trump announced a new trade deal between the United States and Britain, which he described as the first major such agreement of his second term. The announcement, made from the Oval Office with British Prime Minister Keir Starmer on speakerphone, highlighted the accord's benefits for both nations.

  • Thursday, May 8th 2025 - 10:41 UTC

    BCB ups Selic rate to 14.75% per annum

    It was the sixth Selic rate hike in a row

    Brazil's Central Bank's (BCB) Monetary Policy Committee (Copom) unanimously decided Wednesday to raise the Selic benchmark rate by 0.5 percentage points to 14.75% per year, consolidating a contraction cycle. This decision was driven by high food and energy prices and global economic uncertainties, and the financial markets were expecting the move.

  • Thursday, May 8th 2025 - 08:34 UTC

    Former Paraguayan President welcomes Milei's Yacyretá tariff adjustment

    Duarte Frutos highlighted that these funds were crucial to finance works, hospitals, university scholarships, and social programs

    Former Paraguayan President and Yacyretá Binational Entity (EBY) Director Nicanor Duarte Frutos said Argentine President Javier Milei's decree adjusting the energy tariff from US$ 17 to US$ 28 per megawatt-hour (MWh) was the right thing to do and insisted that the measure did not violate any treaty. It rather establishes an effective charge for energy consumption to be paid by his country's National Electricity Administration (ANDE) and the Wholesale Electricity Market Administration Company (CAMMESA).

  • Wednesday, May 7th 2025 - 19:34 UTC

    Brazil tackling famine crisis by suspending fraudulent benefits

    Some 4.1 million fraudulent benefits have been canceled, saving Brazil R$ 34 billion (US$ 5.9 billion) annually, Dias explained

    Brazilian Minister of Development and Social Assistance Wellington Dias highlighted Wednesday that his country, one of the world's leading food producers, was beginning to overcome its famine problem affecting over 33 million people. He made those remarks during the Bom Dia Ministro broadcast show on the State-run EBC station.

  • Wednesday, May 7th 2025 - 10:55 UTC

    Milei adjusts Yacyretá tariff ahead of new operating agreement

    Milei adjusted the price of Yacyretá electricity to US$ 28 per megawatt hour (MWh) from the previous US$ 17

    Argentine President Javier Milei signed Decree No. 303/2025, authorizing a new Operating Agreement for the Yacyretá Hydroelectric Power Plant, a binational entity co-owned by Argentina and Paraguay. The agreement sets a tariff increase from US$17 to US$28 per megawatt-hour (MWh) to optimize supply, ensure financial stability, and support technological modernization

  • Tuesday, May 6th 2025 - 20:16 UTC

    Carney tells Trump Canada not for sale

    Some places like Buckingham Palace are simply not for sale, Carney told Trump. “Never say never,” the Republican leader replied

    Canadian Prime Minister Mark Carney met US President Donald Trump Tuesday in Washington to discuss bilateral ties amid a trade war sparked by tariffs on Canadian goods. Carney firmly told Trump his country was “not for sale,” but the Republican leader replied it was wiser to “never say never.” He insisted that Canada joining the Union as its 51st State would be a “wonderful marriage” with benefits like lower taxes and military protection for Canadians.

  • Tuesday, May 6th 2025 - 10:49 UTC

    Growth reported in Uruguay's foreign trade

    Meanwhile, Uruguay's INE showed a slight decline in inflation

    Uruguay's foreign trade showed growth in April 2025, with exports increasing by 4% compared to the same period last year, a Uruguay XXI study released in Montevideo Monday showed. Total exports for the month reached US$ 1.033 billion, while cumulative exports from January to April amounted to US$ 3.92 billion, also marking a 4% year-on-year increase.

  • Tuesday, May 6th 2025 - 10:35 UTC

    Bolivia's inflation reaches 0.9% in April

    April's figures were “the lowest in seven months” after blockades in October, coupled with unfavorable weather, Arandia explained

    Bolivia's inflation rose by 0.9% last month, bringing the cumulative rate for the first third of 2025 to 5.95%, the National Institute of Statistics (INE) reported Monday. These figures were significantly higher than the 1.31% recorded for the same period in 2024 and represented 79.3% of the government's 7.5% annual target

  • Tuesday, May 6th 2025 - 10:30 UTC

    Peña highlights Paraguay's stability at economic forum in Los Angeles

    Peña is rounding up his month-long US tour on Tuesday

    During his appearance at the Milken Institute Global Forum in Los Angeles, Paraguayan President Santiago Peña highlighted his country's stability, openness, and commitment to inclusive development. The major global economic event acknowledged Paraguay’s dedication to democracy, peace, and combating terrorism.

  • Monday, May 5th 2025 - 20:40 UTC

    FAO Food Price Index increases in April, cereals, meat and dairy lead the tendency

    Harvesting of the 2025 coarse grain crops is beginning in the southern hemisphere, with maize output expected to increase in Brazil and South Africa.

    The benchmark measure of world food commodity prices increased in April, driven by higher quotations for major cereals, meat and dairy products, the Food and Agriculture Organization of the United Nations (FAO) reported.