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MercoPress, en Español

Montevideo, January 29th 2026 - 21:47 UTC

Economy

  • Wednesday, May 9th 2018 - 20:19 UTC

    US Dollar rises: Uruguay behind Argentina

    The exchange houses in the center of Montevideo today marked up to 31.70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday - the highest in five years. Photo: Sebastián Astorga

    After several days up in Argentina, the devaluation of the Argentine peso and the rise of the US dollar have had some impact on the other side of the River Plate, where the exchange houses of downtown Montevideo marked on Wednesday the value of the currency up to 31,70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday —the highest in five years—. For the Uruguayan government, the country follows the global trend and calls for calm, beyond the noise generated in Argentina, which is beginning a dialogue between the Finance Minister, Nicolás Dujovne, and the International Monetary Fund (IMF) in Washington.

  • Wednesday, May 9th 2018 - 07:32 UTC

    Peso storm: Argentina requests a US$ 30bn precautionary credit from IMF

    “This will allow us to face the new global scenario and avoid a crisis like the ones we have faced before in our history,” President Macri said in a televised address

    Argentina asked the International Monetary Fund for financing to help stem a run from the Peso to the US dollar that is sparking a surge in interest rates and threatening to derail the country's economic recovery. The sum requested is estimated between 25 and 30bn dollars, 500% Argentina's IMF quota and could be disbursed in two forms, a flexible credit line or a precautionary credit line.

  • Wednesday, May 9th 2018 - 07:16 UTC

    UK appoints Trade Commissioner for Latin America and the Caribbean

    “With the IMF predicting that 90% of growth will come from outside the EU, we need to look at where the emerging markets are”, said Dr. Liam Fox.

    The United Kingdom's International Trade Secretary, Dr Liam Fox, named a new Trade Commissioner to champion British trade with Latin America and the Caribbean, as the UK prepares for future trade agreements with countries around the world.

  • Wednesday, May 9th 2018 - 07:10 UTC

    Latin American (and global) currencies hit by strong dollar and Trump's policies

    The market’s attention was on President Donald Trump’s decision to withdraw from the international nuclear agreement with Iran, a deal which eased economic

    The dollar hovered near a four-month high on Tuesday, continuing to draw support from higher Treasury yields and upbeat prospects for the U.S. economy, leaving its major rivals such as the Euro struggling and other Latin American currencies including the Argentine peso down sharply.

  • Tuesday, May 8th 2018 - 08:19 UTC

    Boosted by mining and consumption Chilean economy activity soars 4.6% in March

    With the figure of the third month, the economic activity, measured by the IMACEC, accumulates an advance of 4.0% in the first quarter

    Chile's economic activity rose 4.6% in March from the same month a year ago, its sharpest rise in five years, with a boost from rising consumption and a strengthening mining sector, the central bank said on Monday. The Monthly Economic Activity Indicator (IMACEC) of the third month compares with a 4% rise in February.

  • Tuesday, May 8th 2018 - 08:08 UTC

    Overseas accounts of 35.000 Argentines caught in the taxman's web

    A sustained tax information exchange with other countries, will allow AFIP to consolidate fiscal controls, said AFIP head Leandro Cuccioli.

    Argentina's Internal Revenue Service, AFIP, announced it had received information on 35.000 overseas bank accounts held by Argentines, which should make it easier to control payment deadlines of the respective sworn statements on taxes, profits and assets.

  • Tuesday, May 8th 2018 - 06:57 UTC

    Argentine Peso: the worst of the storm seems to be over...for the time being

    “The Peso may strengthen or weaken ... the idea is that there be little volatility,” Treasury Minister Nicolas Dujovne said on local television on Sunday night

    The Argentine Peso closed slightly weaker on Monday, though analysts remained optimistic the government and central bank had curbed a run on the currency with a massive rate hike and lower fiscal deficit target last week. . The local currency opened stronger on Monday but closed down 0.41%, at 21.97 per U.S. dollar. The Merval stock index ended down 3.43% and traders said investors remained cautious.

  • Monday, May 7th 2018 - 20:24 UTC

    Uruguay: No position on the FTA with Chile after an official plenary

    Economy Minister Danilo Astori said that the government's opening policy is not supported.

    The plenary of the leftist coalition Broad Front concluded on Sunday with a motion that postergates de decision over the Free Trade Agreement (FTA) with Chile, defining to leave the decision on whether or not to support the agreement, delaying the debate to a future plenary whose date is not yet defined. The decision was voted after counting an erroneous sum of the votes in the first instance in which the motion to debate the issue in the plenary had won. However, the votes of the Communist Party of Uruguay (PCU) had been put on the wrong side.

  • Monday, May 7th 2018 - 09:07 UTC

    Fed fines Goldman Sachs Group for unsound foreign exchange trading

    The firm failed to detect and address its traders' use of electronic chat-rooms to communicate with competitors about trading positions, said the Fed report

    The United States Federal Reserve Board announced that it has fined The Goldman Sachs Group, Inc., US$ 54.75 million for the firm's unsafe and unsound practices in its foreign exchange (FX) trading business.

  • Monday, May 7th 2018 - 08:54 UTC

    British Embassy in Buenos Aires launches call for project bids for 2018

    The British Embassy in Argentina has been allocated program funds for UK financial year 2018/2019.

    The British Embassy is inviting all interested parties to submit their proposals for the British Embassy Buenos Aires Project Fund 2018. The British Embassy has been allocated program funds for UK financial year 2018/2019. The fund is part of the UK’s total Official Development Assistance (ODA) commitment of 0.7% of GNI.