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MercoPress, en Español

Montevideo, July 27th 2024 - 00:48 UTC

Economy

  • Friday, June 14th 2024 - 09:30 UTC

    Argentina's Indec says May's CPI reached 4.2%

    Minister Caputo celebrated what he deemed to be another achievement in curbing inflation

    Argentina's National Institute of Statistics and Census (Indec) announced Thursday that the Consumer Price Index (CPI) had grown 4.2% in May, which was celebrated by the Libertarian administration of President Javier Milei as another sign of a slow victory over inflation despite the 71.9% recorded in the first five months of 2024 and the 276.4% yoy.

  • Friday, June 14th 2024 - 07:57 UTC

    Milei's trip to China announced but not confirmed

    During his appearance at the G7 Summit in Italy, Milei is scheduled to hold one-on-one talks with fewer world leaders than Brazil's Lula

    After reaching the presidency of Argentina on diatribes against “lefties” and “Communists,” it was reported Thursday in Buenos Aires that Javier Milei would be traveling to Beijing for a meeting on July 4 with Xi Jinping, who insisted on the South American leader's presence for the signing of the extension of a US$ 5 billion currency swap that saved the Libertarian administration from maturities this month and the next.

  • Thursday, June 13th 2024 - 10:43 UTC

    Milei leaves for G7 Summit with a plethora of good news

    Se espera que Milei exponga ante el G7 sobre el posible rol de Argentina como polo de desarrollo líder en inteligencia artificial

    After a day of good news following the Senate's broad approval of the Bases Law bill in addition to an arrangement with China to extend the currency swap in force, Argentine President Javier Milei and his entourage left for Borgo Egnazia, Italy, to attend the G7 Summit, during which he plans to hold talks with Prime Minister Giorgia Meloni, French President Emmanuel Macron and International Monetary Fund (IMF) Managing Director Kristalina Georgieva, among other world leaders.

  • Wednesday, June 12th 2024 - 20:29 UTC

    Milei pledges to leave Casa Rosada dead before surrendering Argentina's zero deficit

    A survey found that six months into Milei's administration, the government's support was intact among Libertarian voters

    Argentine President Javier Milei said Wednesday morning that “they will have to take me out of the [Casa] Rosada dead” if they are “to break the fiscal deficit.” The Libertarian leader made those remarks during his speech at an event in Buenos Aires ahead of his trip to Italy to attend the G7 Summit. ”We are going to make a bigger reform than the one made by Carlos Menem because ours is three times more (so),” he added.

  • Wednesday, June 12th 2024 - 19:17 UTC

    Cargo terminal at Porto Alegre's airport operational again

    Opened in 2021, Porto Alegre's International Cargo Terminal (Teca) was launched in 2021 and functions 24/7

    While passenger flights are still observing an emergency scheme, the cargo terminal at Porto Alegre's Salgado Filho International Airport (POA/SBPA) has been operational once again since Tuesday after the entire air station was shut down due to the floods hitting the State of Rio Grande do Sul, Agencia Brasil reported. According to Fraport Brasil, the company handling these operations, airport structures such as the runway and baggage conveyors, were not affected. On the other hand, passenger flights were suspended indefinitely on May 3.

  • Wednesday, June 12th 2024 - 10:34 UTC

    World Bank: Uruguay in for economic growth above par in 2024

    Uruguay's performance is projected despite a poor review given to the port of Montevideo

    The same World Bank report that foresaw a gloomy 2024 for Argentina forecasted a 3.2% growth for Uruguay in a region headed for poor average performance, the “World Economic Outlook” released Tuesday in Washington DC projected growth in Latin America and the Caribbean to reach 1.8% in 2024 before bouncing back to 2.7% in 2025 as interest rates and inflation slow down.

  • Tuesday, June 11th 2024 - 22:17 UTC

    World Bank foresees economic deterioration for Argentina this year

    A recovery above average is also forecast for 2025

    According to the latest “World Economic Outlook” report released Tuesday by the World Bank from its headquarters in Washington DC, Argentina's economy is expected to fall sharply this year, thus becoming the Latin American country going through the tightest contraction in the region before rebounding in 2025. The study projected a 3.5% drop this year followed by a 5% surge in 2025, thus outperforming the rest of the continent.

  • Tuesday, June 11th 2024 - 18:41 UTC

    Paraguay enacts “linked towns” bill for residents of border locations

    The new legislation will represent “a solution to the problems of the chaotic traffic that usually occurs in border cities,” Kronawetter pointed out

    Paraguayan President Santiago Peña signed into law a bill providing for the creation of the so-called “linked towns” bordering Argentina and Brazil. The measure grants residents a preferential status in economic, labor, health, and cultural issues, it was explained.

  • Monday, June 10th 2024 - 21:19 UTC

    Gloomy future for SMEs in Argentina, studies find

    The crisis is expected to deepen in the next 12 months, the IPA report showed

    According to a survey published by the Argentine Confederation of Medium-Sized Companies (CAME) report released Monday in Buenos Aires, retail sales in Argentina fell 7.3% year-on-year in May as President Javier Milei's chainsaw economic policies took a deeper toll on the purchasing power of the population.

  • Monday, June 10th 2024 - 07:07 UTC

    Christine Lagarde: Why we adjusted interest rates

    European Central Bank Headquarters in Frankfurt

    By Christine Lagarde

    The ECB has cut interest rates, 6th June. President Christine Lagarde explains why and sets out what still needs to be done to bring inflation back to 2% over the medium term. (*)