Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, June 7th 2023 - 22:45 UTC

Economy

  • Friday, May 12th 2023 - 10:30 UTC

    Despite fears of recession and bank failures, US economy manages 4,9% inflation and unemployment stands at 3,4%

    While prices for milk, airline tickets and new cars fell during April, housing, petrol and used car prices all jumped from March to April

    Inflation in the US has fallen to 4,9%, in the twelve months to April, according to official figures. That was down from 5% in March and marks the tenth month in a row that price rises have slowed.

  • Friday, May 12th 2023 - 10:16 UTC

    Ecuador and China reach FTA

    The deal “puts Ecuador on the map of Asia,” Prado said

    Ecuador and China signed a free trade agreement (FTA) whereby the South American country will have access to a market of 1.4 billion people, it was reported in Quito on Wednesday. It was the second such pact signed under the administration of President Guillermo Lasso, following the one reached with Costa Rica.

  • Wednesday, May 10th 2023 - 10:40 UTC

    Lula and Sunak discussed trade, investment, forestry and Ukraine in London

    The Prime Minister praised President Lula’s leadership on climate change and welcomed his reflections on the concerning situation in the Amazon.

    British Prime Minister Rishi Sunak welcomed President Lula da Silva to Downing Street ahead of King Charles III Coronation on Saturday. The leaders discussed the great potential in the relationship between the UK and Brazil, including in health, research and development and technology.

  • Tuesday, May 9th 2023 - 10:55 UTC

    Talks between Argentina and IMF “progressing constructively”

    Argentina hopes the IMF makes all of its 2023 disbursements next month

    The International Monetary Fund (IMF) admitted negotiations with the Argentine Government were still going on toward a redesigning of the country's program in light of the present drought, while Casa Rosada sources agreed that “the conversations” were “progressing constructively.”

  • Monday, May 8th 2023 - 10:21 UTC

    Brazil: Millions could fall into poverty unless proper investing is done

    Green technologies are gaining space, and this affects demand, one of the authors of the World Bank's study found

    Millions of Brazilians could be thrown into extreme poverty in the next few years due to weather-related phenomena, a report released last week by the World Bank showed.

  • Saturday, May 6th 2023 - 11:16 UTC

    Ecuador bonds in debt for nature swap includes promise to upgrade Galapagos Islands conservation

    With Ecuador in severe financial turmoil, the bonds were trading well below face value as investors considered non-repayment to be likely

    In a debt for nature swap, Credit Suisse has announced buying Ecuadorian bonds worth US$1.6 billion. With Ecuador in severe financial turmoil, the bonds were trading well below face value as investors considered non-repayment to be likely. Effectively, Ecuador has now bought its own debt back at a knock-down price via a fresh loan from Credit Suisse.

  • Saturday, May 6th 2023 - 11:00 UTC

    Latin America needs to take climate change seriously, says Moody's

    Brazil, Mexico, and Argentina are the leading CO2 emitters in the region, accounting for about 70 % of the GDP generated in the region

    According to a Moody's Analytics report published this week, Latin America will lose productivity to climate change if it does not take swift action. The document titled “Latin America under the risk of climate change” explained that governments, companies, and financial institutions should adopt preventive measures to reduce carbon emissions, in order to mitigate eventual damages caused by climate change.

  • Saturday, May 6th 2023 - 10:54 UTC

    Central Bank report corrects Argentina's inflation projections upwards

    For the next twelve months, the REM anticipates inflation will reach 146.5%.

    According to the Argentine Central Bank's (BCRA) Market Expectations Survey (Relevamiento de Expectativas de Mercado - REM) report published Friday, the panel of economists issuing that document has made an upward correction to their inflation forecasts for 2023, placing it at 126.4%, or 16.4 percentage points above April's projections, while last month's Consumer Price Index (CPI) is believed to be of 7.5%. The National Institute of Statistics and Census (Indec) will release the official data on May 12.

  • Friday, May 5th 2023 - 10:10 UTC

    Argentina gets new loan from the IDB

    The new deal is in addition to one granted the day before

    The Interamerican Development Bank (IDB) has granted Argentina a US$ 150 million loan to strengthen educational access for school-age youth in the province of Buenos Aires, it was announced Thursday. This new credit is in addition to another one granted the day before in the amount of US$ 265 million, to boost the inclusion of people with disabilities.

  • Thursday, May 4th 2023 - 10:40 UTC

    “Argentina extremely cheap,” says Uruguayan president

    “Naturally the residents of the coastal cities consume where it is cheaper for them,” Lacalle admitted

    Uruguayan President Luis Lacalle Pou said his country has a problem with prices in Argentine being so low due to a favorable exchange rate that people cross the border to do their shopping.