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MercoPress, en Español

Montevideo, November 23rd 2024 - 00:36 UTC

Economy

  • Tuesday, March 5th 2024 - 10:41 UTC

    Brazil: Services sector driving prices upward, BCB President warns

    The BCB will pursue the inflation target to the letter but the market still expects it to be higher, Campos Neto pointed out

    Brazil's Central Bank (BCB) President Roberto Campos Neto said on Monday that inflation in South America's largest country was taking a turn in a “benign” direction, Agencia Brasil reported. In his view, the services sector requires the most attention because it has “started to put a bit of pressure” on prices.

  • Tuesday, March 5th 2024 - 10:26 UTC

    Lula and Georgieva hold a “good conversation”

    Lula insisted that the IMF needs to be “more representative of today's world”

    Brazilian President Luiz Inácio Lula da Silva Monday suggested International Monetary Fund (IMF) Managing Director Kristalina Georgieva should move on with the reform of the credit agency, among other issues they discussed during their “good conversation” in Brasilia where they also reviewed “social inclusion” and the “Poverty in the world” project.

  • Monday, March 4th 2024 - 10:39 UTC

    Milei's policies leave almost no Urguayans shopping across the border

    Prices in Argentina are no longer that attractive to Uruguayan consumers who used to cross the bridge between Fray Bentos and Gualeguaychú to do their shopping

    Business owners in the city of Gualeguaychú in the Argentine province of Entre Ríos are foreseeing increasing losses after the latest economic measures by President Javier Milei's administration have resulted in fewer Uruguayans crossing the border to do their shopping as prices are no longer considerably lower.

  • Monday, March 4th 2024 - 10:23 UTC

    Retail sales drop 25.5% year-on-year in Argentina

    “In terms of prices, February had less uncertainty than November, December, and January,” CAME also explained

    A study released Sunday by the Argentine Confederation of Medium-Sized Companies (CAME) showed a 25.5% interannual decline at constant prices in retail sales in Argentina and a 27% drop for the first two months of 2024, it was reported in Buenos Aires. The Index of Retail Sales of SMEs also mentioned a 7.4% setback from January, when a 6.4% monthly decrease had been recorded.

  • Saturday, March 2nd 2024 - 10:57 UTC

    Milei launches “May Pact” offer to governors in exchange for financial aid

    Milei chose Córdoba for the historical agreement because it is “the country's foundational place in terms of knowledge”

    Argentine President Javier Milei Friday announced he was summoning the governors of the 23 provinces plus the mayor of the Autonomous City of Buenos Aires as well as former heads of state and other political leaders to sign on the national May 25 holiday what he named “the May Pact,” a foundational agreement whereby the rules of the country's future would be laid out. He launched this appeal during his speech opening the 142nd Legislature.

  • Saturday, March 2nd 2024 - 10:50 UTC

    Brazil: IBGE announces economy grows 2.9% in 2023

    “Agriculture grew by 15.1% last year, pushed by the growth in soybean and corn production,” IBGE's Rebeca Palis said

    According to a report released Friday by Brazil’s Institute of Geography and Statistics (IBGE), the gross domestic product (GDP) in South America's largest country grew by 2.9% in 2023 driven by a record 15.1% expansion in the agricultural sector. It was the most significant leap since the beginning of the series in 1995. Industry (1.6%) and services (2.4%) also saw an improvement.

  • Friday, March 1st 2024 - 10:06 UTC

    Interannual figures highlight contrasting realities in Brazil and Argentina

    In Argentina, mass consumption contracted 3.8% year-on-year while in Brazil it grew 1.2%

    Reports released Thursday showed contrasting realities between South America's two largest countries. While consumption grew 1.2% interannually in January, according to the Brazilian Association of Supermarkets (Abras), the situation was quite the opposite in Argentina due to rampant inflation outpacing wage updates.

  • Thursday, February 29th 2024 - 13:32 UTC

    President Milei anticipates decree-based economic reforms, stating Parliament's obstacles

    Addressing concerns about potential social unrest, Milei dismissed the notion unless incited by politically motivated events or foreign interference.

    Argentina's President Javier Milei, ahead of his first appearance before the Congress of the Nation for the opening of ordinary sessions, has signaled a proactive approach to economic reform. In an interview with the Financial Times, Milei emphasized his intent to implement reforms “by decree,” citing challenges in garnering parliamentary support due to the current composition.

  • Thursday, February 29th 2024 - 11:40 UTC

    EU-Mercosur deal not this year, Peña says

    Neither Mercosur nor Paraguay will stand idly waiting for Europe's decisions, Peña stressed

    Paraguayan President Santiago Peña, who holds the pro-tempore presidency of the South American Common Market (Mercosur), ruled out Wednesday in Madrid an agreement with the European Union (EU) this year while insisting that his trip to Spain was more to offer than to ask.

  • Thursday, February 29th 2024 - 11:23 UTC

    Air industry workers' strike leaves thousands stranded in Argentina

    It was an irresponsible thing to do, Adorni said

    Thousands of air travelers were stranded Wednesday as workers of the Argentine airline industry went on strike for 24 hours in rejection of a 12% wage increase that in no way matches the country's rampant inflation.