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MercoPress, en Español

Montevideo, June 17th 2026 - 13:01 UTC

Economy

  • Tuesday, April 28th 2026 - 19:20 UTC

    United Arab Emirates leaves OPEC amid energy crisis fueled by Iran war

    The United Arab Emirates was OPEC's third-largest producer, behind Saudi Arabia and Iraq, with output of 3.4 million barrels per day before the conflict with Iran

    The United Arab Emirates announced on Tuesday its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ alliance, in a decision taking effect on May 1 that constitutes one of the most significant blows to the oil cartel in its more than six decades of existence. The announcement comes amid the largest energy crisis in years, triggered by the closure of the Strait of Hormuz during the war between the United States and Iran launched on February 28, and on the eve of the OPEC meeting scheduled for Wednesday in Vienna.

  • Monday, April 27th 2026 - 15:00 UTC

    Brazilian platform to track commodity chains ahead of EU deforestation rules

    The EUDR is expected to have a greater impact in the coming years, given the growing trade ties between Mercosur and the European Union.

    A new Brazilian digital platform began operating on Monday to cross-check social and environmental data and support the tracing of commodity chains linked to deforestation, land conflicts and other rural violations.

  • Monday, April 27th 2026 - 14:40 UTC

    Argentine economy ministry secretary resigns over seven undeclared properties in Miami

    The investigation identified the companies Genova LLC and Waki LLC as the vehicles used to acquire the properties, located in Palm Beach county and Miami

    Argentine Economy Minister Luis Caputo on Sunday accepted the resignation of Infrastructure Coordination Secretary Carlos Frugoni, following a media investigation that revealed the official failed to declare to Argentine tax authorities seven apartments in the state of Florida, acquired through two limited liability companies incorporated in Delaware. Frugoni, who had been in the post for just four months, now faces a complaint for alleged illicit enrichment and malicious omission in his asset declarations.

  • Thursday, April 23rd 2026 - 12:28 UTC

    Latin America's largest investment bank targets Uruguay as regional hub after acquiring local HSBC unit

    Founded in 1983 in Rio de Janeiro, the group is present in Brazil, Argentina, Chile, Colombia, Mexico, and Peru

    Brazilian group BTG Pactual, Latin America's largest investment bank, is awaiting authorisation from Uruguay's Central Bank (BCU) to begin operating in the local financial market following its $175 million acquisition of HSBC Uruguay, agreed in July 2025. Group executives expect regulatory approval to come through by mid-year, allowing them to begin operations gradually in the second half of 2026.

  • Tuesday, April 21st 2026 - 13:41 UTC

    Milei trapped between inflation and growth: admits “not everyone is better off” but vows no course change

    For a president who has repeatedly stated that “inflation is always and everywhere a monetary phenomenon,” printing money for direct transfers to vulnerable groups is off the table

    Argentine President Javier Milei acknowledged for the first time that “not everyone is better off” under his government, but ruled out modifying his economic plan despite inflation that has accelerated for ten consecutive months, falling real wages and record household delinquency. “The chainsaw won't stop. We will tie ourselves to the ship's mast — we will not listen to the siren songs,” he said at the American Chamber of Commerce (AmCham) summit.

  • Friday, April 17th 2026 - 21:42 UTC

    Iran declares Hormuz “fully open” until ceasefire ends; Trump insists on keeping Iranian port blockade

    Despite the relief, normalizing traffic will take weeks. According to maritime intelligence firm Windward, at least 823 vessels remain trapped in the Persian Gulf

    Iran announced on Friday that the Strait of Hormuz will remain “fully open” to merchant shipping until the ceasefire with the United States expires next Wednesday. The decision, linked to the start of the 10-day truce between Israel and Lebanon announced by Trump on Thursday, triggered an immediate drop in oil prices of nearly 10% and strong relief across global markets.

  • Wednesday, April 15th 2026 - 22:12 UTC

    Trump says he will fire Powell if he stays past May as Senate stalls successor's confirmation

    Powell publicly linked the investigation to political pressure after receiving the first subpoena in January

    US President Donald Trump on Wednesday threatened to fire Federal Reserve Chair Jerome Powell if he does not leave when his term expires on May 15. “Well then, I'll have to fire him,” Trump said in an interview on Fox Business. “I've held back firing him. I've wanted to fire him, but I hate to be controversial. I want to be uncontroversial, but he will be fired.”

  • Wednesday, April 15th 2026 - 22:10 UTC

    IMF approves second review of Argentina program, unlocking US$1 billion disbursement

    Argentina is the IMF's largest debtor. Its obligations to the Fund exceed $57 billion, accounting for 34.5% of the institution's outstanding loans, and grew 36% over the past twelve months

    The International Monetary Fund on Wednesday reached a staff-level agreement with Argentina on the second review of the country's extended fund facility, clearing the way for a disbursement of approximately $1 billion pending approval by the Fund's executive board. With this tranche, Argentina will have received roughly $15 billion of the $20 billion agreed in April 2025, Reuters reported.

  • Wednesday, April 15th 2026 - 10:23 UTC

    Milei blames opposition and Iran war for 3.4% inflation and calls for patience

    Milei called on citizens to be “patient” and rejected proposals to ease monetary policy

    Argentine President Javier Milei devoted his speech on Tuesday at the American Chamber of Commerce (AmCham) summit to addressing the March inflation figure released hours earlier by statistics agency INDEC: a monthly 3.4%, the highest reading in a year and the tenth consecutive month of acceleration since the 1.5% recorded in May 2025.

  • Wednesday, April 15th 2026 - 10:20 UTC

    Uruguay bets on international integration to attract investment amid global uncertainty

    The IMF cut its growth forecast for Uruguay from 2.4% to 1.8% for 2026, matching the 2025 rate, as part of a global revision triggered by the conflict in Iran

    Uruguay's government responded on Tuesday to the International Monetary Fund's latest projections with a strategy centered on trade openness and investment attraction. Deputy Economy and Finance Minister Martín Vallcorba acknowledged the world is going through “a moment of great uncertainty” driven by the Middle East war, but said the country is working to create “positive and favorable conditions for investment and growth.”