Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, July 4th 2025 - 11:34 UTC

Economy

  • Saturday, May 11th 2024 - 10:43 UTC

    Wages trail inflation in Argentina under Milei

    Wages trail inflation in Argentina under Milei

    Inflation outpaced salaries in March by 11% to 10.3%, according to a report by Argentina's National Institute of Statistics and Censuses (Indec) released Friday in Buenos Aires. In yoy terms, the Wage Index increased by 200.8% on average (231.7% in the registered private sector, 183.7% in the public sector, and 129.2% in the informal private sector) and inflation was 287.9%, the survey showed. Hence, President Javier Milei's perception that salaries were recovering turned out inaccurate.

  • Friday, May 10th 2024 - 10:46 UTC

    Bank of England keeps rate at 5,25%; March inflation 3,2%, but services remain high, 6%

    Twelve-month CPI inflation fell to 3.2% in March from 3.4% in February. CPI inflation is expected to return to close to the 2% target in the near term

    The Bank of England’s Monetary Policy Committee (MPC) at its meeting ending on 8 May 2024, voted by a majority of 7–2 to maintain Bank Rate at 5.25%. Two members preferred to reduce Bank Rate by 0.25 percentage points, to 5%.

  • Thursday, May 9th 2024 - 23:31 UTC

    Brazil's Central Bank lowers Selic rate once again

    There was no indication as to what may happen in the next BCB board meeting

    Brazil's Central Bank (BCB) lowered once again the South American country's Selic benchmark interest rate to 10.5% per year amid a recent rise in the quotation of the US dollar, Agencia Brasil reported.

  • Thursday, May 9th 2024 - 21:43 UTC

    April FAO food prices index slightly higher, vegetable oils and cereals climbing

    Maize export prices increased, influenced by a robust import demand amidst mounting logistical disruptions as a result of infrastructure damages in Ukraine and concerns about Brazil's production

    The benchmark for world food commodity prices edged higher in April, as higher prices of meat and modest upticks for vegetable oils and cereals outweighed decreases in sugar and dairy product prices, the Food and Agriculture Organization of the United Nations (FAO) reported.

  • Thursday, May 9th 2024 - 10:23 UTC

    Paraguayan exports grow 15% in April

    Shipments to the Americas accounted for most of Paraguay's sales abroad last month

    Paraguay's Export Single Window Consortium (Convue) confirmed this week that shipments in the first four months of 2024 reached US$ 2,790 million, representing a US$ 380 million yoy increase as per the Single Export Window System (DGVUE), under the Ministry of Industry and Commerce, based on certificates of origin.

  • Tuesday, May 7th 2024 - 19:43 UTC

    FMI foresees rebound in Uruguay's economy

    According to the IMF, “continued vigilance of monetary policy is crucial”

    The Washington-based International Monetary Fund (IMF) released a report this week forecasting a “strong rebound” in Uruguay's economy this year. Driven by a surge in agricultural exports amid “balanced” macroeconomic risks, a 3.7% growth has been projected.

  • Tuesday, May 7th 2024 - 19:19 UTC

    Argentina is the promised land for businesspeople, Milei says

    “Argentina is becoming a freer country day by day,” Milei insisted

    Argentine President Javier Milei told attendees at the Milken Institute's Global Conference in Beverly Hills that his country “has all the conditions to be the new Mecca of the West” and asked businessmen to help build “the new Rome of the 21st Century.”

  • Tuesday, May 7th 2024 - 18:57 UTC

    Paraguay: Waterway master plan called for amid discouraging weather forecast

    The Paraguay-Paraná Waterway is fundamental for Paraguay's foreign trade

    Water levels below average at the Paraná-Paraguay river waterway have traders concerned over the future of their business. However, there seems to be consensus on the need to develop a master plan to tackle the grim situation stemming from discouraging precipitation forecasts despite abundant rainfall in recent weeks.

  • Tuesday, May 7th 2024 - 14:52 UTC

    Argentina introduces 10,000 peso banknotes amid soaring inflation

    Argentina suffers from high inflation – 287.9 % annualized last March – which requires the use of higher denomination banknotes to reduce logistic costs and facilitate transactions. “

    Argentina has introduced a new denomination of banknotes, the 10,000 peso bill (equivalent to about 10 U.S. dollars), in response to the country's ongoing struggle with high inflation. The Central Bank of Argentina (BCRA) announced that these new banknotes will gradually enter circulation starting this Tuesday and be available at bank branches and ATMs nationwide.

  • Monday, May 6th 2024 - 20:34 UTC

    After EU June elections, agreement with Mercosur can be reached: “A matter of time and timing”, EU negotiator

    For Rupert Schlegelmilch, the agreement with Mercosur “is a complicated process but it is a also matter of time and timing”

    The Mercosur/European Union trade and cooperation agreement, “is a complicated process but it is also a matter of time and timing”, according to Rupert Schlegelmilch, chief EU negotiator of the accord who recently visited Mercosur country and associate members to meet government officials and business groups to confirm EU's determination to finish the deal.