Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, January 25th 2022 - 01:50 UTC

Economy

  • Thursday, January 13th 2022 - 09:59 UTC

    Latin America forecasted to grow a soft 2,6% in 2022 and 2,7% in 2023, World Bank

    Inflation has risen across the region, exceeding central banks' targets in most cases.

    Growth in Latin America and the Caribbean region (LAC) rebounded to an estimated 6.7% in 2021, driven by favorable external conditions and pandemic-related developments, according to the World Bank's Global Economic Prospects. Region-wide new COVID-19 cases dropped sharply in the second half of the year, before surging in late December, even as the vaccination rollout progressed. Strong demand in key export destinations (the United States and China), high commodity prices, and continued high remittances to Central American and Caribbean countries were also supportive of growth in 2021.

  • Thursday, January 13th 2022 - 09:48 UTC

    World economy is facing Covid-19, inflation and policy uncertainty, Global Economic Prospects

    ”Rising inequality and security challenges are particularly harmful for developing countries,” said World Bank Group President David Malpass

    Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report. Global growth is expected to decelerate markedly from 5.5% in 2021 to 4.1% in 2022 and 3.2% in 2023 as pent-up demand dissipates and as fiscal and monetary support is unwound across the world.

  • Thursday, January 13th 2022 - 09:45 UTC

    ECLAC foresees growth rate in 2022 around one third of that of 2021

    ECLAC recommended consolidating the income tax on individuals and corporations, extending the scope of taxes on heritage and property, while adding new taxes on the digital economy.

    Growth in Latin America and the Caribbean will slow down in 2022 to 2.1%, after a 6.2% increase on average last year, the Economic Commission for Latin America and the Caribbean (ECLAC) forecast Wednesday in a study.

  • Wednesday, January 12th 2022 - 09:55 UTC

    Brazil's inflation for 2021 reaches 10.06%

    Electricity, fuel and coffee were among the items which impacted the most in the final outcome

    Brazil's inflation for the year 2021 has reached 10.06%, which was the country's highest in the past six years, driven mainly by the rise in fuel prices and by the energy crisis, the Brazilian Institute of Geography and Statistics (IBGE) announced Tuesday.

  • Wednesday, January 12th 2022 - 09:25 UTC

    Guyana's rice exports back on track thanks to Gov't help

    “We now have close to about 42 countries where we are exporting rice,” Mustapha said

    Guyana's exports for the year 2021 of approximately 434,535 tons of rice, paddy, and its by-products meant US $ 201 million in revenues, according to Agriculture Minister Zulfikar Mustapha, after new export markets such as the British Virgin Islands (BVI) as well as Estonia and Slovenia were added to the list of buyers.

  • Wednesday, January 12th 2022 - 09:23 UTC

    Taiwan grants Paraguay zero tariffs to import 11 products

    The Taiwanese Embassy in Asunción has conveyed to the Paraguayan Government tariffs had been cut down to zero for the purchase of 11 Paraguayan products under the Economic Cooperation Agreement already in force between the two countries.

  • Tuesday, January 11th 2022 - 13:50 UTC

    Argentina's covid Miracle

    Professor Stiglitz with Argentine economy minister Martin Guzmán

    By Joseph Stiglitz – Unlike the United States, which could spend one-quarter of its GDP protecting its economy from the COVID-19 fallout, Argentina entered the pandemic with the deck stacked against it. Yet, thanks to the current government’s policies to strengthen the real economy, the country has been enjoying a remarkable recovery.

  • Tuesday, January 11th 2022 - 13:45 UTC

    Emerging Economies Must Prepare for Fed Policy Tightening

    Prices are rising at the fastest pace in almost four decades and the tight labor market has started to feed into wage increases

    IMF Blog by Stephan Danninger, Kenneth Kang and Helene Poirson (*) – For most of last year, investors priced in a temporary rise in inflation in the United States given the unsteady economic recovery and a slow unraveling of supply bottlenecks.

  • Monday, January 10th 2022 - 21:45 UTC

    Regional pensions among the worst, according to Mercer's GPI

    “In Argentina, women have financial challenges that have not yet been adequately resolved,” Mercer's Estevarena explained

    According to the Global Pension Index (GPI) issued by the Mercer Institute, Latin America's systems appeared among the worst of the 43 countries surveyed, with Argentina in 42nd place, only one notch above Thailand.

  • Monday, January 10th 2022 - 21:36 UTC

    Venezuela's inflation for the year 2021 reaches “only” 686.4%

    The economy is on a path to some stability, but at what price?

    Venezuela's Central Bank (BCV) has confirmed December's 7.6% marked the 12th consecutive month with inflation below 50% for an yearly total of 686.4%, it was announced.