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MercoPress, en Español

Montevideo, April 22nd 2025 - 02:32 UTC

Economy

  • Friday, February 2nd 2024 - 10:27 UTC

    Brazil: STF judge suspends heavy fine on Odebrecht

    Those being investigated may have been led to make decisions contrary to their interests and for the benefit of the prosecution, Toffoli argued

    Brazilian Supreme Federal Court (STF) Justice José António Dias Toffoli ordered a R$ 8.5 billion (about US$ 1.7 billion) corruption fine on Odebrecht suspended after raising doubts on the circumstances that led the company to accept such a collaboration agreement with the Prosecutor Office.

  • Friday, February 2nd 2024 - 03:48 UTC

    Strong support from IMF to President Milei and his austerity policies

    Kristalina Georgieva with president Milei at IMF main offices in Washington

    The new government of Argentine president Javier Milei and its austerity policies to try and put the country's economy back on track received a strong boost from the International Monetary Fund, IMF, which approved the disbursement of US$ 4,7 billion.

  • Friday, February 2nd 2024 - 03:00 UTC

    Bank of England leaves basic rate at 5,25%; little space for any cuts

    Since the MPC’s previous meeting, global GDP growth has remained subdued, although activity continues to be stronger in the United States

    The Bank of England Monetary Policy Committee, MPC, at its meeting ending on 31 January 2024, voted by a majority of 6–3 to maintain Bank Rate at 5.25%. Two members preferred to increase Bank Rate by 0.25 percentage points, to 5.5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 5%.

  • Thursday, February 1st 2024 - 10:55 UTC

    Lacalle praises Milei for acquiescing to further dredging of River Plate

    The previous Argentine administrations of Presidents Mauricio Macri (2015-2019) and Alberto Fernández (2019-2023) stalled the project out of landlocking fears

    Uruguayan President Luis Lacalle Pou Wednesday praised his Argentine counterpart Javier Milei's willingness to cooperate in further dredging the River Plate at the Port of Montevideo from 13 to 14 meters. The previous administrations of Argentine Presidents Mauricio Macri and Alberto Fernández (2015-2023) considered that these works would leave the port of Buenos Aires in a disadvantageous position. Negotiations in this regard started in 2013 under Presidents Tabaré Vázquez and Cristina Fernández de Kirchner (CFK).

  • Thursday, February 1st 2024 - 10:51 UTC

    Brazil lowers Selic basic interest rate

    Further Selic cuts are expected in the coming months

    Brazil's Monetary Policy Committee (Copom) unanimously decided Wednesday to cut down the country's basic interest rate known as Selic by 0.5 percentage points to 11.25% per year, Agencia Brasil reported.

  • Thursday, February 1st 2024 - 10:15 UTC

    Argentina: Fuel at pumps soars as gov't lifts taxation cap

    Decree 107/2024 bears the signatures of President Milei and Ministers Luis ‘Toto’ Caputo (Economy) and Guillermo Francos (Interior)

    Drivers lined up for hours Wednesday in Buenos Aires and other places across Argentina as a new increase in the price of fuel at pumps was expected to be enacted Thursday following a decision by the administration of President Javier Milei to release a liquid fuel (ICL) and carbon dioxide (IDC) tax cap in force since 2021, it was reported.

  • Thursday, February 1st 2024 - 10:01 UTC

    Argentine Central Bank reserves stronger after FMI disbursement

    The latest deal between Argentina and the IMF unblocked a new tranche of disbursements

    After the International Monetary Fund (IMF) Board approved the staff-level agreement with Argentina's current administration, the Government of President Javier Milei received a US$ 4.7 billion disbursement which bolstered the Central Bank (BCRA) reserves to US$ 27.635 billion, it was reported Wednesday in Buenos Aires. The latest deal between Argentina and the IMF unblocked a new series of disbursements.

  • Wednesday, January 31st 2024 - 10:59 UTC

    IMF foresees gloomy near future for Argentina

    Latin America and the Caribbean were also forecast by the FMI to suffer an economic slowdown driven mainly by Argentina's downward revision

    Following President Javier Milei's latest measures, the International Monetary Fund (IMF) Tuesday reviewed for the worse its projections for Argentina's economy this year (-2.8%) and forecasted inflation would remain high in the short term.

  • Wednesday, January 31st 2024 - 10:19 UTC

    Latin America exports in 2023 contracted 2,2%, and prospects for this year are uncertain, IDB report

    Export performance deteriorated throughout most of the region. South America and the Caribbean were the sub regions hit hardest by the fall in commodity prices

    The value of exports from Latin America and the Caribbean contracted by 2.2% in 2023 after having grown by 17.0% in 2022, a new release from the Inter-American Development Bank (IDB) reports.

  • Tuesday, January 30th 2024 - 10:31 UTC

    Squid is becoming “too expensive” in Korea because of lesser catch volumes

    Korea Agro-Fisheries & Food Trade Corporation and the Korea Agricultural Market Information System claim the price of a medium-sized frozen squid has increased 20.8% in twelve months

    Korean media is pointing out the fact that squid, once considered the “people's side fish”, given its affordability, is now an expensive dish, and has offered some market prices in South Korean Won, which exchanges at 1,330 SKW to the US dollar.