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MercoPress, en Español

Montevideo, May 23rd 2025 - 09:55 UTC

Economy

  • Monday, May 5th 2025 - 10:51 UTC

    Massive gold reserve found in Argentine province of Salta

    They were originally looking for copper

    A massive gold reserve exceeding 11 million ounces was discovered in the Argentine province of Salta, at the Lindero project, 260 km from the territory's capital. Initially targeted for copper, the site revealed a deposit with 84 million tons of material at 0.6 grams per ton, making it one of South America’s most significant finds. The project, leveraging existing infrastructure, is driving economic growth through job creation, construction, and logistics.

  • Monday, May 5th 2025 - 10:46 UTC

    Paraguay's BCP announces overoptimistic GDP projection

    The impact of global tariffs “will probably be more indirect,” Carvallo argued

    Despite many experts believing otherwise, Paraguay's Central Bank (BCP) has raised its GDP growth projection for 2025 from 3.8% to 4% amid geopolitical tensions and potential trade wars. BCP President Carlos Carvallo defended the adjustment, citing strong economic performance and advanced data showing better-than-expected dynamics in several sectors, except agriculture, which was impacted by drought-affected soybean production.

  • Saturday, May 3rd 2025 - 10:14 UTC

    World Bank grants additional US$ 230 million to Milei's Argentina

    The WB has so far given US$ 1.5 billion to Milei's administration

    The World Bank (WB) Friday approved a US$ 230 million loan for Argentina to enhance job creation and training, supporting the “Promoting Employment” and “Back to Work” programs. This financing, part of a US$ 12 billion three-year package following Argentina’s International Monetary Fund (IMF) agreement, aims to benefit over 800,000 unemployed individuals through training, job search services, and socio-labor skill certification, it was explained.

  • Thursday, May 1st 2025 - 10:59 UTC

    Workers' Day highlights ongoing challenges and digital shifts in Latin America

    A new report by the World Economic Forum reveals that 84% of employers in the region plan to upskill their workforce by 2030 to meet the growing demand for digital and technological talent

    As the world marks International Workers' Day on May 1st, Latin America reflects not only on the hard-won labor rights of the past but also on the urgent challenges of the digital age. Born from the 1886 Chicago protests demanding an eight-hour workday, the holiday honors the legacy of the “Haymarket Martyrs” and remains a symbol of the global struggle for fair labor conditions.

  • Thursday, May 1st 2025 - 10:09 UTC

    Argentine gov't to eliminate export duties from 4,411 items

    These “taxes affected the competitiveness of these Argentine companies abroad,” Caputo explained

    Economy Minister Luis' Toto' Caputo announced Wednesday that the Argentine government will eliminate export duties on 88% of industrial products, affecting 4,411 items and benefiting 3,580 businesses (nearly 40% of exporters).

  • Wednesday, April 30th 2025 - 10:51 UTC

    Chile's Central Bank keeps basic interest rate unchanged

    Chile's Central Bank also foresaw that inflation would “continue at high levels in the immediate future”

    Chile's Central Bank unanimously decided Tuesday to keep the Monetary Policy Rate at 5%, aligning with market expectations. The bank highlighted increased global uncertainty due to U.S. tariffs under Donald Trump and geopolitical conflicts, given “uncertainty about the outlook for the global economy has increased considerably since the previous meeting, particularly following the tariff announcements made by the United States in early April and subsequent developments,” which have negatively impacted perceptions of global growth.

  • Tuesday, April 29th 2025 - 20:55 UTC

    Supermarket sales in Argentina plummet under Milei, UBA study finds

    There are no positive signs on the demand side

    Supermarket sales in Argentina have dropped by 8% while wholesale sales have plummeted by 22% under President Javier Milei, a report from the University of Buenos Aires showed Tuesday. The decline is attributed to adjustment policies causing high inflation and tariff hikes, which eroded wage purchasing power, redirecting spending from consumer goods to basic services, thus reversing a brief recovery between January and November 2023 (before Milei took office).

  • Tuesday, April 29th 2025 - 07:43 UTC

    Falklands, the size and maturity of Loligo squid forces closure of fishing season

    The lack of commercial size squid comes in a year when fishing companies have invested heavily in new vessels.

    The Falkland Islands Government Fisheries Department has confirmed that the Loligo fishing season has closed. The season closed on Sunday 27 April. Following issues with the second season in the last two years, the first season was closely monitored, particularly with regards to size and maturity of squid being caught.

  • Monday, April 28th 2025 - 10:55 UTC

    IMF tightens the reins on Colombia

    Petro calls Georgieva “a vampire”

    Colombian President Gustavo Petro said the International Monetary Fund (IMF) authorities were “vampires” who suspended his country's access to a US$ 8.1 billion flexible credit line on Saturday.

  • Monday, April 28th 2025 - 09:52 UTC

    Aerolineas Argentinas to shut down all but 2 ticket offices

    These cost cuts come as the Libertarian government is expected to resurface privatizing the airline

    Argentine President Javier Milei's “chainsaw” policies reached flag carrier Aerolíneas Argentinas, which will be shutting down 19 of its 21 ticket offices nationwide. Only the Mendoza and Córdoba branches will remain operational, pushing customers to online booking and purchasing.