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MercoPress, en Español

Montevideo, April 19th 2024 - 06:41 UTC

Economy

  • Friday, March 22nd 2024 - 19:27 UTC

    Buenos Aires Governor Kicillof turns to BRICS for financial help

    During the videoconference, Kicillof (R) explored the possibility of the province getting a loan from the NDB

    The governor of the Argentine province of Buenos Aires Axel Kicillof Thursday held a video conference with BRICS bank chairwoman and former Brazilian President Dilma Rousseff to “strengthen collaboration ties and discuss investment opportunities” for the country's largest territory, according to a statement from the Peronist/Kirchnerite leader's office.

  • Thursday, March 21st 2024 - 09:41 UTC

    Brazil's Copom further lowers Selic interest rate in line with market expectations

    “There's nothing to celebrate,” Juvandia Moreira said

    Brazil's Monetary Policy Committee (Copom) announced Wednesday that it was further cutting the economy's basic interest rate known as Selic by 0.5 percentage points to 10.75% per year, Agencia Brasil reported.

  • Tuesday, March 19th 2024 - 11:04 UTC

    Boric says Chile's economy will take off in 2024 after dodging recession

    Growth is going to be noticed in the pockets of families, said Boric

    Chilean President Gabriel Boric Font said Monday that his country's economy would “take off” this year after dodging recession in 2023 and reaching a meager 0.2% growth.

  • Tuesday, March 19th 2024 - 10:30 UTC

    Paraguayan President highlights his country's productive model

    Peña underlined Paraguay's strengths regarding business undertakings

    President Santiago Peña highlighted Paraguay's productive model and spoke about his country's future in terms of economic and financial development in the panel “Spotlight on Latin America” sponsored by the Financial Times, it was reported Monday in Asunción. The head of state also pointed out that the technology incorporated into the agricultural production system will allow Paraguay to achieve the development it has longed for.

  • Monday, March 18th 2024 - 10:35 UTC

    Argentines faring worse off under Milei

    Average salaries are not enough to purchase one basic food basket and Argentines are looking for second jobs to make ends meet

    Despite the apparent success of Argentine President Javier administration's policies to curb inflation, various reports last week showed plummetting figures regarding economic activity and welfare. To fight growing retail prices, the Libertarian Government authorized imports of yerba mate, dairy products, meat, rice, and even sugar.

  • Monday, March 18th 2024 - 10:12 UTC

    Argentina's SME industry records new interannual fall in February

    CAME is also taking center stage in Argentine politics

    Argentina's small- and medium-sized manufacturing industry fell 9.9% last month compared to February last year at constant prices, the Argentine Confederation of Medium-sized Companies (CAME) said in a report released over the weekend. It was the third straight month downwards despite a slowdown from December's 27% and January's 30%, the survey also showed.

  • Saturday, March 16th 2024 - 10:09 UTC

    Moody's improves Uruguay's ratings

    Sound institutions “reinforce political and social stability, attracting foreign investment,” Moody's argued

    Uruguay's strong institutions have earned the South American country an upgrade in Moody's rating from Baa2 to Baa1, it was reported Friday. The risk-gauging agency also changed the outlook to stable.

  • Thursday, March 14th 2024 - 19:29 UTC

    S&P downgrades Argentina's rating in local currency

    Downgrading Argentina's foreign currency status will hinge on political developments affecting the economic policy, S&P explained

    Despite Argentine President Javier Milei's stringent measures to curb inflation, his country took another slump Wednesday after the international credit rating agency Standard & Poor's (S&P) declared it in “Selective Default” following a domestic debt swap worth some U$S 55.3 billion in pesos with local creditors.

  • Thursday, March 14th 2024 - 10:59 UTC

    Rift between Milei and Villarruel goes public over DNU Senate debate

    “The Executive Branch reaffirms its unwavering commitment to the 0% deficit, leaving behind the failed recipes of the political caste,” Milei said in a tone Villarruel disapproved of

    Argentine President Javier Milei Wednesday cautioned Vice President Victoria Villarruel and a group of Senators as they were about to debate the most encompassing emergency decree (DNU) 70/2023 which liberalizes the economy but needs Parliamentarian approval (or silence) to remain in force.

  • Wednesday, March 13th 2024 - 10:29 UTC

    Argentina: Inflation in February reaches 13.2%, according to Indec

    Prices went up above inflation projections, Adorni said in a press conference. Retailers foresaw a catastrophe that did not happen, he added

    According to a report from Argentina's National Institute of Statistics and Census (Indec) released Tuesday in Buenos Aires, the South American country's Consumer Price Index (CPI) went up 13.2% in February of 2024 for a yoy total of 276% amid notorious declines in industry, construction, and consumption.