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MercoPress, en Español

Montevideo, April 22nd 2025 - 02:32 UTC

Economy

  • Monday, January 29th 2024 - 10:54 UTC

    Milei says “There is no Plan B”: What else did the President tell the WSJ?

    Milei also pointed out that Argentina's history was riddled with Plan Bs of doing things only halfway right

    Argentine President Javier Milei underscored in an interview with The Wall Street Journal (WSJ) published on Sunday “the speed” at which his government was “achieving results” and warned that “there is no plan B to do things right.”

  • Saturday, January 27th 2024 - 10:59 UTC

    Milei: Cabinet crisis, diplomatic clash with Colombia and Argentina “closer” to dollarization

    Economy Minister Luis 'Toto' Caputo said the taxation chapter of the Omnibus Law bill was left for later and admitted he would be taking over Infrastructure after Ferraro's sacking

    While Argentine President Javier Milei said Friday that his country was closer to dollarizing its economy, Minister Luis 'Toto' Caputo announced that the taxation part of the so-called Omnibus Law bill was being spared for a later date in a move to have the legislation passed as soon as possible to achieve a zero deficit. However, the Chief of State's plans clash with other conflicts within the cabinet and also in diplomatic matters.

  • Saturday, January 27th 2024 - 10:55 UTC

    French PM says his country would not endorse EU-Mercosur deal

    President Macron “has always opposed” such an understanding, Attal explained

    French Prime Minister Gabriel Attal Friday announced his country's decision once again to oppose the free trade deal between the European Union (EU) and Mercosur amid protests from local farmers objecting to President Emmanuel Macron's latest measures affecting agrifood production.

  • Thursday, January 25th 2024 - 15:12 UTC

    Argentine leftwing and labor groups stage national strike against Milei's reforms

    “I am a fan of Huracán, but they want to come for the big [football] clubs,” explained Daer about Milei's most encompassing DNU that targets virtually everything

    Argentine labor unions staged a relatively successful strike and demonstration Wednesday to protest against President Javier Milei's emergency decree (DNU) already in force plus the so-called Omnibus Law bill to curb public spending which would defund numerous activities currently running on State allowances. It was the first such measure since May 29, 2019, under then-President Mauricio Macri (2015-2019).

  • Wednesday, January 24th 2024 - 09:38 UTC

    Toyota's first plant in Brazil shut down

    The facilities had become obsolete since opening in 1962 and newer factories were preferred for current challenges

    Japanese giant carmakers Toyota this week closed its São Bernardo plant, the company's oldest factory in Brazil which had been established in 1962. It was there that the Land Cruiser “Bandeirante” and the Corolla models were built in South America. Toyota's administrative headquarters for Brazil and South America also operated there for decades. It was said to be the company's first production facility outside Japan.

  • Tuesday, January 23rd 2024 - 10:36 UTC

    Brazil's gov't pushes for further industrial development

    Lula underscored the role of protectionism in hindering industrial development

    President Luiz Inácio Lula da Silva Monday launched the New Industry Brazil (NIB) plan which promises to invest R$ 300 billion (US$ 60.12 bn) by 2026 in a move to boost the South American country's economy. The project laid out by the National Industrial Development Council (CNDI) aims to transform Brazil's industry into a more innovative, green, exporting, and productive sector, it was explained.

  • Monday, January 22nd 2024 - 10:59 UTC

    SME industries plummet in Argentina

    In December, 53.4% of Argentina's SMEs reported difficulties replenishing stocks, especially in the procurement of raw materials and inputs

    The Argentine Confederation of Medium-Sized Companies (CAME) released a report in Buenos Aires during the weekend saying industries from those companies had shrunk by 26.9% in December last year from the same month in 2022, amid a presidential changeover and growing uncertainties. The activity closed last year with an accumulated drop of 2.6%.

  • Friday, January 19th 2024 - 10:17 UTC

    Foreign Ministers of Brazil and China holding key talks

    Wang Yi and Vieira are to meet again Friday

    China's Foreign Minister Wang Yi held a meeting in Brasilia on Thursday with his Brazilian counterpart Mauro Vieira and President Luiz Inácio Lula da Silva's special advisor Celso Amorim to discuss trade and cooperation between the two countries, it was reported. Wang Yi and Vieira are to meet again Friday for the signing of a series of agreements after which they will be issuing a joint statement to the press, it was also explained.

  • Friday, January 19th 2024 - 10:10 UTC

    Paraguay's BCP confirms CPI in 2023 within target range

    Paraguay ranked behind Ecuador, Bolivia, and Peru

    Paraguay's Central Bank (BCP) Thursday released a report showing that the Consumer Price Index (CPI) for 2023 was 3.7%, making it the fourth lowest in South America in addition to falling within the target range (3.8%). It also meant a decrease from 2022's 8.1%.

  • Thursday, January 18th 2024 - 21:13 UTC

    Argentina: Record highs in parallel dollar rates as the country grapples with economic challenges

    While the wholesale dollar rises by only 70 cents to $819.30, the dynamic “blue” dollar or parallel rate was around $1,240, near its intraday nominal peak of $1,250, presenting a 51.4% gap

    The strength of the dollar in alternative markets is once again exerting pressure on financial dealings on Thursday, with the exchange rate gap reaching 60%, posing challenges to President Javier Milei's economic plan amidst soaring inflation and increasing poverty.