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MercoPress, en Español

Montevideo, November 23rd 2024 - 09:14 UTC

Economy

  • Thursday, December 21st 2023 - 08:52 UTC

    European Union agrees on new spending rules, but to be implemented in 2025

    The Franco-German proposal that Lindner and his French counterpart Bruno Le Maire agreed took place on Tuesday evening

    Following an agreement between heavyweights Germany and France, the European Union has anticipated lower budget deficits and falling debt ratios to boost investment. The decision was praised by the northern EU austerity members and also by the southern countries, normally more lenient on spending.

  • Wednesday, December 20th 2023 - 10:45 UTC

    IMF says Brazil is the 9th economy in the world

    “They don't know the work you have to do to be so lucky,” Lula said

    According to a report from the International Monetary Fund (IMF) released Tuesday, Brazil is now the ninth-largest economy in the world, thus displacing Canada from that position.

  • Wednesday, December 20th 2023 - 10:42 UTC

    Argentina: Milei to explain drastic measures

    Argentina: Milei to explain drastic measures on national TV and radio

    Argentine President Javier Milei will go on national television on Wednesday to explain the scope of his most-encompassing emergency decree (DNU) to deregulate the economy with more than 600 provisions.

  • Tuesday, December 19th 2023 - 10:14 UTC

    Brazil sees bilateral trade with Argentina falling in 2024

    Bilateral trade Argentina/Brazil reached US$ 27 billion in eleven months of 2023, with Brazilian exports totaling US$ 17bn, and Argentina US$ 11bn.

    Brazil's main financial and business publication, Valor Economico is forecasting that bilateral trade with Argentina is expected to fall in 2024, based on the recent measures announced by the government of president Javier Milei. In the eleven months of 2023, bilateral trade between Argentina and Brazil reached US$ 27 billion, with Brazilian exports totaling US$ 17bn, and Argentina US$ 11bn.

  • Tuesday, December 19th 2023 - 09:24 UTC

    Red Sea becoming a no-go area for international shipping

    BP announced that “in light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits.”

    Several global maritime agencies and oil and gas giant British Petroleum announced they would temporarily pause transit through the Red Sea until further notice because of the repeated missile and drone incidents against their vessels.

  • Monday, December 18th 2023 - 10:53 UTC

    Argentina to buy electricity from Brazil due to storm

    The storm came as the Argentine government was already planning to increase the price of electricity for consumers citing a new emergency

    Following the disruption caused by last weekend's storms to the country's grid, Argentina will import electricity from Brazil on a transitory basis, it was reported Sunday, in addition to other emergency measures adopted to face the crisis and restore supply in parts of the Autonomous City of Buenos Aires (CAMA) and its Metropolitan Area (AMBA).

  • Saturday, December 16th 2023 - 10:37 UTC

    IDB will continue to support Argentina

    However, the IDB is not involved in Argentina's negotiations with the International Monetary Fund, Goldfajn explained

    Inter-American Development Bank (IDB) President Ilan Goldfajn said his entity “has supported Argentina for many years and decades and will continue to” do so after President Javier Milei's administration adopted a series of measures he found to be “strong.”

  • Saturday, December 16th 2023 - 10:05 UTC

    Argentina: Milei says burden on private sector is “transitory”

    Argentina: Milei says burden on private sector is “transitory”

    Argentine President Javier Milei Friday released a live broadcast through his Instagram account explaining that “The effort that falls on the private sector is transitory.” The head of state added his administration was “focused on avoiding hyperinflation.”

  • Saturday, December 16th 2023 - 10:02 UTC

    Presidential Spokesman warns Argentina going through hyperinflation

    President Milei's administration wants to put an end to privileges, Adorni also said

    Argentina's Presidential Spokesman Manuel Adorni Friday confirmed his country was going through hyperinflation since the 1% daily rate mentioned earlier this week by Economy Minister Luis Toto Caputo would result in a 3,678% per annum.

  • Friday, December 15th 2023 - 10:55 UTC

    Argentina: Inflation is 1% daily, Caputo says

    Argentina needs an orthodox fiscal policy, Caputo explained

    Argentine Economy Minister Luis Toto Caputo said Thursday that inflation in his country stood already at 1% per day and insisted that measures were being taken to get out of this “financial catastrophe” through a classic orthodox stabilization plan. “We are in that process, but we are very confident,” he stressed.