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MercoPress, en Español

Montevideo, July 1st 2025 - 02:01 UTC

Economy

  • Friday, August 16th 2024 - 21:00 UTC

    Panama Canal ups vessel draft to 50 feet

    The news reflects the Canal's commitment to return to normal operating conditions, the ACP said in a statement

    The Panama Canal Authority (ACP) has sent a notice to shipping lines announcing that the maximum draught for vessels passing through the Neopanamax locks between the Atlantic and Pacific Oceans has been increased to 50 feet (15.24 meters). The ACP explained this decision was made in light of the current and projected water levels in Lake Gatun for the coming weeks.

  • Friday, August 16th 2024 - 09:54 UTC

    Milei outlines his dollarization plan which will add other currencies

    “At some point, there are going to be so many dollars in the economy that, maybe that day, we will be able to close the Central Bank,” Milei explained

    During his appearance at the Expo Real Estate event, Argentine President Javier Milei explained Thursday his currency competition plan and also delved into the matter of closing down the Central Bank, one of his main campaign promises. The head of state also stressed that thanks to the economic adjustment undertaken by his administration a debt rollover for part of 2025 had been guaranteed.

  • Thursday, August 15th 2024 - 09:31 UTC

    ECLAC highlights low investments and productivity in the region

    “The question is whether the Argentine people will have the patience to wait,” Salazar-Xirinachs wondered

    The Santiago de Chile-based Economic Commission for Latin America and the Caribbean (ECLAC) issued this week a new edition of its annual Economic Survey of Latin America and the Caribbean 2024 report highlighting the region's poor investment performance, low labor productivity, and limited fiscal space.

  • Wednesday, August 14th 2024 - 21:03 UTC

    Argentina: Inflation in July reaches 4%, Indec says

    Below par were “Communications” (3.5%), “Miscellaneous Goods and Services,” and “Household Equipment and Maintenance” (3.5% each), Indec's report showed

    Argentina's Consumer Price Index (CPI) went up 4% in July, the National Institute of Statistics and Census (Indec) announced Wednesday in Buenos Aires. Thus, interannual inflation stood at 263.4%. So far in 2024, prices rose by 87%.

  • Tuesday, August 13th 2024 - 10:16 UTC

    Mercosur-China talks held in Montevideo

    “Uruguay has been a promoter of this type of dialogue,” Albertoni stressed

    Deputy Foreign Minister Nicolás Albertoni met Monday with his Chinese colleague Hua Chunying in Montevideo as the Southern Common Market (Mercosur) under Uruguay's rotating presidency kept pushing for a Free Trade Agreement with the Asian giant. Also present were dignitaries from the other members of the regional bloc as well as Beijing's Ambassador Huang Yazhong.

  • Tuesday, August 13th 2024 - 07:59 UTC

    China is the main buyer of Argentine beef and Beijing wants to increase bilateral trade further

    Between 2017 and 2022, Argentina’s exports to China grew by 12.8% per year, and although the value of exports fell last year, growth picked up again this year

    Argentina’s economic relationship with China has become increasingly important, with growing trade highlighted by increasing Argentine beef exports, points out the English language China Daily. Something which to a certain point is surprising, given the electoral campaign speeches of president Javier Milei, condemning all authoritarian regimes.

  • Tuesday, August 13th 2024 - 07:44 UTC

    Delfim Netto: architect of modern Brazilian economy has died

    Economy minister from 1967 to 1974, under his helm the Brazilian economy expanded at an average annual rate of 10%, still the fastest on record.

    Antonio Delfim Netto, a former Brazilian finance, agriculture and planning minister, plus advisor of several presidents, both under military and elected regimes, considered one of the architects of the transformation of the country's economy has died in Sao Paulo.

  • Tuesday, August 13th 2024 - 07:39 UTC

    July consumer prices up in Brazil; central bank ready to raise interest rates to fight inflation

    Inflation in 12 months through July was 4,50%, up from 4.23% in June, according to IBGE, and the upper limit of the tolerance band for the central bank's target

    Prices in Brazil were up 0.38% in July, stats office IBGE said on Friday, accelerating from the 0.21% increase reported in June and exceeding an economists' poll forecast of a 0.35% monthly rise.

  • Thursday, August 8th 2024 - 17:48 UTC

    Argentina lowers levy on beef exports, farmers happy but the overall policy questioned

    The latest numbers from meat exporters shows that China takes 81% of Argentine beef sales, Israel 6%, United States 5%, Germany 4% and Netherlands 3,6%.

    The Argentine government is lowering beef export tax 25%, from 9% to 6,75% basically “to promote sales to foreign markets and improve the level of income of producers and processors, favoring the insertion of Argentina in international markets”, points out the decree published on Tuesday in the Official Gazette.

  • Thursday, August 8th 2024 - 09:56 UTC

    Argentine breeders in UK tour of meat and dairy technology centres

    The Palermo agriculture and livestock expo where the best of Argentine breeds compete for the top prizes, and is also an opportunity for the display of new technologies and farming practices

    June, July, August are months of the austral winter and Argentina, southern Brazil, Paraguay, Uruguay hold their main livestock shows, (Palermo, Esteio, Roque Alonso and Prado) including a display of the latest technology advances in cattle feeding and breeding.