Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, July 23rd 2025 - 10:43 UTC

Economy

  • Saturday, November 30th 2024 - 10:25 UTC

    Brazil: US dollar pierces R$ 6 barrier

    Brazil's Central Bank (BCB) did not intervene in the exchange rate

    The US dollar closed for the first time above the psychological R$ 6 barrier on another turbulent day in Brazil's markets, Agencia Brasil reported. The local scene continued to reverberate after the spending cut package announced earlier this week by Finance Minister Fernando Haddad, also impacting the stock exchange scene during the day.

  • Friday, November 29th 2024 - 10:24 UTC

    Brazil's devaluation hits all-time high exchange rate

    Haddad's measures were deemed insufficient to tackle the country's fiscal imbalance

    The US dollar fell an iota short of crossing the R$ 6 barrier after measures announced by the Brazilian Government of President Luiz Inácio Lula da Silva raised uneasiness in South America's largest country Thursday. The local currency has fallen 23.4% this year and 3.36% this week alone.

  • Thursday, November 28th 2024 - 10:45 UTC

    Bolivia highlights gas pumping deal as a source of hard currency

    “We are estimating more than 10 million dollars per month,” Montenegro said

    Bolivia will be collecting some US$ 120 million yearly for allowing Argentine gas from Vaca Muerta through to Brazil, Economy Minister Marcelo Montenegro explained Wednesday during a press conference in which he highlighted the importance of Tuesday's agreement to bringing fresh foreign currency into the country's coffers in addition to its strategic nature in a regional context riddled with energy challenges.

  • Tuesday, November 26th 2024 - 23:19 UTC

    Meat supply resumed to French supermarket chain stores in Brazil after apology

    “If Carrefour France's communication generated confusion ... we apologize,” Bompard said

    French supermarket giant Carrefour apologized so that Brazilian meatpackers would end their boycott of the group and resume deliveries to stores nationwide, Agencia Brasil reported Tuesday. The measure had been adopted after the company's CEO Alexandre Bompard said last week that meat produced in the South American country did not meet European standards for which he was forced to recant.

  • Tuesday, November 26th 2024 - 21:51 UTC

    Paraguay does not accept any harm to its production

    Paraguay is leading the negotiations for an FTA with the United Arab Emirates, Peña underlined

    Paraguayan President Santiago Peña pledged to “firmly” defend his country's meat in the face of recent statements by Carrefour CEO Alexandre Bompard, who refused to continue selling meat from Mercosur countries.

  • Monday, November 25th 2024 - 22:09 UTC

    Inflation a problem in Bolivia as prices soar following road blockades

    We expect that prices in November will tend to go down, Arandia explained

    Former President Evo Morales' followers mounting road blockades at key locations nationwide resulted in shortages and the subsequent surge in the price of products that the government is now worried about inflation probably spiraling, National Statistics Institute (INE) Director Humberto Arandia admitted Sunday.

  • Friday, November 22nd 2024 - 10:20 UTC

    Praise for Milei’s stabilization program: IDB approves 2 billion dollars in loans for Argentina

    The loans will assist the country in key measures to strengthen public finances, energy sector sustainability, and child development

    The Inter-American Development Bank (IDB) Executive Board approved four operations, totaling over 2 billion US dollars to support Argentina's strategy to promote fiscal sustainability and lay the groundwork for sustainable and equitable growth. The loans will assist the country in key measures to strengthen public finances, energy sector sustainability, and child development. Additionally, the IDB will support the City of Buenos Aires in improving access to public health services.

  • Thursday, November 21st 2024 - 19:38 UTC

    French supermarket chain to halt sales of Mercosur meat to boycott FTA

    Mercosur meat might “flood the French market with meat that does not meet its requirements and standards,” Carrefour's CEO feared

    Carrefour CEO Alexandre Bompard announced this week that his company would not be selling meat imported from the Southern Common Market (Mercosur) in a move to prevent the Free Trade Agreement (FTA) with the European Union from pulling through. France's largest supermarket planned on suspending meat imports from Argentina, Bolivia, Brazil, Paraguay, and Uruguay “in solidarity with the agricultural sector.”

  • Thursday, November 21st 2024 - 09:44 UTC

    Argentina gets IDB and WB loans

    These announcements are linked to Economy Minister Luis Toto Caputo's participation last month in Washington at the WB annual meeting, it was reported

    Argentina's Libertarian Government has been granted loans from the World Bank (WB) and the Inter-American Development Bank (IDB) worth around US$ 4 billion, the Economy Ministry in Buenos Aires announced Wednesday. “The IDB and the World Bank approve financing for more than 4 billion dollars for projects in our country,” the ministry said in a statement.

  • Thursday, November 21st 2024 - 09:27 UTC

    Guyana oil output breaking all oil exploration and production records

    Since January 2024, oil companies offshore Guyana are pumping over 600,000 barrels per day, with developments, completed at a scorching pace

    The impoverished South American country of Guyana is emerging as a major international oil producer and exporter. The former British colony is expected to become not only South America’s top oil producer but a key driver of world petroleum supply growth. The country has also become one of the fastest growing economies in the region, according to the World Bank and the Inter-American Development Bank