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MercoPress, en Español

Montevideo, April 22nd 2025 - 09:47 UTC

Economy

  • Friday, December 15th 2023 - 10:55 UTC

    Argentina: Inflation is 1% daily, Caputo says

    Argentina needs an orthodox fiscal policy, Caputo explained

    Argentine Economy Minister Luis Toto Caputo said Thursday that inflation in his country stood already at 1% per day and insisted that measures were being taken to get out of this “financial catastrophe” through a classic orthodox stabilization plan. “We are in that process, but we are very confident,” he stressed.

  • Friday, December 15th 2023 - 10:50 UTC

    Argentine granted CAF loan to face IMF maturities

    Milei did ask for the release of a US$ 6 billion swap agreed upon with former Economy Minister Massa

    The Argentine Government of President Javier Milei has been granted a loan of nearly US$ 1 billion by the Development Bank of Latin America and the Caribbean (CAF) to face maturities with the International Monetary Fund (IMF) later this month.

  • Friday, December 15th 2023 - 10:36 UTC

    Brazil: Selic cut for fourth time in a row

    A similar reduction is foreseen for late January

    Brazil's Central Bank (BCB) cut the Selic benchmark rate for the fourth consecutive time, from 12.25% to 11.75% per annum, in line with market expectations, it was reported in Brasilia. The Selic is now at its lowest level since reaching 10.75% in March 2022.

  • Thursday, December 14th 2023 - 10:09 UTC

    Argentina: CPI 12.8% up in November and 160.9% YoY

    JP Morgan foresees a slow recovery next year

    Argentina's National Institute of Statistics and Census (Indec) released a report Wednesday stating that the Consumer Price Index (CPI) for November 2023 went up 12.% for a total of 148.2% so far this year and an interannual increase of 160.9%. November's figures represented a strong jump from October's 8.3%.

  • Wednesday, December 13th 2023 - 10:59 UTC

    Argentina: Devaluation and austerity measures announced

    “There is no money to pay for works that often end up in the pockets of politicians and businessmen,” Caputo argued

    Argentina's Economy Minister Luis Toto Caputo Tuesday admitted people would be worse off for a couple of months while announcing in a recorded message the new measures adopted by the administration of President Javier Milei to bounce back from the deep crisis.

  • Wednesday, December 13th 2023 - 10:58 UTC

    Thumbs up from the IMF to Argentina's policy changes

    Georgieva said Toto Caputo's measures were “an important step toward restoring stability and rebuilding the country's economic potential”

    After Argentina's Economy Minister Luis Toto Caputo announced Tuesday in Buenos Aires a series of measures to tackle inflation, the Communications Director of the International Monetary Fund (IMF) Julie Kozack said in a statement that “these strong initial actions aim to significantly improve public finances in a way that protects the most vulnerable in society and to strengthen the exchange rate regime.”

  • Wednesday, December 13th 2023 - 10:56 UTC

    Spotify not leaving Uruguay after all

    The new decree clarified some legal loopholes, Delgado explained

    Uruguayan President Luis Lacalle Pou Tuesday signed a regulatory decree regarding current regulations, which allows the music-streaming platform Spotify not to leave the country in February as previously announced.

  • Wednesday, December 13th 2023 - 10:41 UTC

    Paraguay's growth projected at 3.8% for 2024

    “Conditions have improved in 2023 and the outlook for 2024 is favorable,” Carvallo stressed

    Paraguay's economy is expected to grow 3.8% in 2024, according to a report from the South American country's Central Bank (BCP) released Tuesday in Asunción. The document also pointed out it would be the highest economic growth in the region next year.

  • Wednesday, December 13th 2023 - 10:30 UTC

    PM Sunak convinces Parliament to approve his “Safety of Rwanda” bill

    “The British people should decide who gets to come to this country, not criminal gangs or foreign courts,” Sunak said after the controversial bill passed.

    British PM Rishi Sunak and his 'stop the boats' policy managed a crucial vote when Parliament passed 313 to 269 on Tuesday the Safety of Rwanda bill, which intends to send asylum seekers and migrants to the African country.

  • Wednesday, December 13th 2023 - 10:26 UTC

    Panama Canal drought hitting world trade

    Things may get worse by February if water levels remain low

    Global trade through the Panama Canal is being severely disrupted by a drought affecting the man-made corridor, which could force shippers to choose other, more costly routes, it was reported. The historic waterway in Central America connecting the Pacific and Atlantic Oceans handles about 5% of international seaborne trade.