Economy

• Monday, July 7th 2025 - 09:36 UTC

  BRICS Summit insists on two-state solution for Middle East crisis; Iran objects

  

  The 17th BRICS Summit in Rio de Janeiro issued Sunday a new declaration advocating for a two-state solution, one Palestinian and one Israeli, like on previous occasions.

• Monday, July 7th 2025 - 09:30 UTC

  IMF and WB “a reversed Marshall Plan” says Lula

  

  Brazilian President Luiz Inácio Lula da Silva Sunday criticized the role of the International Monetary Fund (IMF) and the World Bank (WB) because they represent “a reverse Marshall Plan, in which emerging and developing economies finance the more developed world.”

• Saturday, July 5th 2025 - 10:53 UTC

  Uruguay's inflation closer to target

  

  Uruguay's year-on-year inflation rate dropped to 4.59% in June, marking its fourth consecutive monthly decline. This figure is very close to Uruguay's Central Bank (BCU) target of 4.5% and keeps inflation within the 3% to 6% tolerance range for the 25th consecutive month.

• Thursday, July 3rd 2025 - 10:19 UTC

  S&P doowngrades Bolivia's ratings

  

  Standard & Poor's (S&P) downgraded Bolivia's long-term credit rating from 'CCC+' to 'CCC-' with a negative outlook. This decision was driven by increasing debt servicing costs and a deteriorating external financial profile, which could make it harder for the landlocked country to access financing and potentially hinder its ability to pay off debt in the coming months.

• Wednesday, July 2nd 2025 - 23:34 UTC

  Mercosur-EFTA FTA announced in Buenos Aires

  

  The Southern Common Market's (Mercosur) Summit in Buenos Aires kicked off Wednesday with the announcement by Argentina, Brazil, Paraguay, and Uruguay of a Free Trade Agreement (FTA) finalized with the European Free Trade Association (EFTA - Iceland, Liechtenstein, Norway, and Switzerland). The documents are to be signed in the coming months.

• Wednesday, July 2nd 2025 - 15:07 UTC

  Mercosur widens list of external tariff-free goods

  

  The Southern Common Market (Mercosur) countries will be allowed to add 50 product types to the bloc's common external tariff-free items, per an agreement signed in Montevideo.

• Wednesday, July 2nd 2025 - 10:55 UTC

  Bi-oceanic corridor feared to hamper Montevideo Port's future

  

  Uruguayan National Port Administration's (ANP) representative at the River Plate Basin Terminal (TCP), Jorge Pozzi, raised concerns Tuesday during a radio interview about the future of Montevideo's port. In his view, the proposed Pacific-Atlantic bioceanic corridor, connecting Brazil with Chile or Peru, could bypass Uruguay entirely, significantly impacting its system, economy, and thousands of workers.

• Tuesday, July 1st 2025 - 10:55 UTC

  US judge rules against Argentina in YPF restatization case

  

  Judge Loretta Preska of the Southern District Court of New York ordered Argentina to transfer 51% of YPF shares to an escrow account to settle a US$16.1 billion judgment in favor of Burford Capital and Eton Capital, stemming from the 2012 expropriation of the oil company. The ruling, which Argentina may appeal, surprised the government, as even the US Department of Justice opposed it. The decision led to a sharp decline in YPF shares (1.4% on Wall Street, 3% locally) and a 2% drop in the Merval index.

• Monday, June 30th 2025 - 18:27 UTC

  Orsi speaks wonders of 2030 Agenda in Seville

  

  Speaking at the 4th International Conference on Financing for Development Monday in Seville, Spain, Uruguayan President Yamadú Orsi defended multilateralism and the 2030 Agenda as key to addressing global issues like poverty, hunger, and pollution.

• Saturday, June 28th 2025 - 10:39 UTC

  IMF team rounds up mission to Argentina

  

  The International Monetary Fund (IMF) concluded a four-day technical mission in Buenos Aires to review Argentina’s compliance with a new US$20 billion agreement signed in mid-April 2025, it was announced Friday in Buenos Aires.