Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, November 24th 2024 - 03:27 UTC

Economy

  • Wednesday, July 26th 2023 - 10:20 UTC

    Building an equitable fiscal future for Latin America

    LAC countries suffer from staggering income disparities, with the top 10% of earners making 22 times more than the poorest 10% and the top 1% accounting for 21% of the region’s total income

    By Jose Antonio Ocampo (*)

    BOGOTÁ – On July 27-28, Colombia will host the first ministerial summit for sustainable, inclusive and equitable global taxation, with the support of Brazil and Chile. The choice of venue is not coincidental: it reflects Colombia’s commitment to tackling poverty and inequality through progressive taxes.

  • Tuesday, July 25th 2023 - 11:48 UTC

    Argentina: “Blue” dollar rises yet again

    Massa wants to avoid an abrupt devaluation ahead of the elections

    The “blue” (a euphemism for “black market”) exchange rate between the Argentine peso and the US dollar rose over AR$ 20 -trading at AR$ 550/US$1- for an accumulated increase of AR$37 in the last 11 days after the latest announcements from the Economy Ministry, it was reported in Buenos Aires.

  • Tuesday, July 25th 2023 - 11:40 UTC

    Lula expects the Central Bank to lower the benchmark interest rate next week

    Lula has long called on the bank to cut the key Selic rate from its current six-year high of 13.75%, a level the government views as hindering economic growth

    Brazil's President Luiz Inácio Lula da Silva and his economic team in their ongoing battle with the independent Central Bank, have anticipated they expect a cut in the benchmark interest rate, of at least 25 points, pressuring bank policymakers to lower borrowing costs given a dramatic fall in inflation.

  • Tuesday, July 25th 2023 - 11:20 UTC

    Uruguayan tourists take their dollars across the border to Argentina

    Monzeglio spoke of the downside of Uruguay's economic stability: People can travel anywhere they want

    Argentina's economic volatility has become a magnet for Uruguayan travelers during the winter recess, causing significant losses to local businesses, it was reported in Montevideo.

  • Tuesday, July 25th 2023 - 11:00 UTC

    Federal Reserve anticipates a 0.25% interest rate increase this week

    A 0.25% rate hike would mark the Fed's 11th rate hike in nearly a year and a half and take its benchmark interest rate, to a range of 5.25%-5.50%, a 22-year high.

    Despite calls to the contrary the Federal Reserve is expected to raise interest rates by another 0.25% this week with Fed Chair Jay Powell expected to leave the door open to additional rate hikes later this year.

  • Tuesday, July 25th 2023 - 10:54 UTC

    Solution wanted at Mercosur level: mobility platforms need local HQs

    The lack of representatives of these companies to attend to the claims of their users is a matter of concern, Estigarribia explained

    According to Paraguay's Juan Marcelo Estigarribia, Executive Secretary of the South American country's Consumer and User Defense Secretariat (Sedeco), a Mercosur Technical Committee has received a complaint from his agency about the lack of representation of mobility platforms such as Uber and Bolt.

  • Saturday, July 22nd 2023 - 10:59 UTC

    Argentine President confident about ongoing negotiations with IMF

    All negotiations with the Fund are difficult when one seeks to preserve one's own decisions, Fernández said

    Argentine President Alberto Fernández Friday spoke with International Monetary Fund (IMF) Managing Director Kristalina Georgieva to discuss a new understanding ahead of this year's elections, it was reported in Buenos Aires.

  • Friday, July 21st 2023 - 10:28 UTC

    Brazil's gov't wants the “super rich” to pay income tax on funds abroad

    A worker who earns a low salary pays income tax and a millionaire does not, Haddad underlined

    Brazil's Finance Minister Fernando Haddad said the federal government was considering additional taxes to the country's largest fortunes to “correct absurd things in the tax system,” it was reported. According to the former presidential candidate, the government wants to tax the “super rich” who have offshore funds or hold their investments in exclusive funds that currently do not pay income tax.

  • Thursday, July 20th 2023 - 09:17 UTC

    Buenos Aires: “Blue” dollar keeps going up amid police raids

    Aníbal Fernandez explained that they were trying to arrest a mysterious group known as “the liquidators”

    Argentina's Central Bank (BCRA) Wednesday sold US$ 130 million and 288 million yuan (around US$ 40 million) in a desperate move to keep the “blue” (a euphemism for “black market”) quotation from soaring any further after reaching AR$ 527 / US$ 1.

  • Wednesday, July 19th 2023 - 10:38 UTC

    Argentine team starts talks with IMF toward new deal

    If negotiations are successful, Massa might travel to the US by Friday

    Argentina's Economic Policy Secretary Adolfo Rubinstein; Chief Advisor Leonardo Madcur; and Central Bank (BCRA) Vice-President Lisandro Cleri started Tuesday in Washington DC a new round of negotiations with a technical team of the International Monetary Fund (IMF) to finalize a new agreement ahead of this year's presidential elections, it was confirmed by an IMF spokesperson.