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MercoPress, en Español

Montevideo, November 24th 2024 - 03:52 UTC

Economy

  • Friday, July 14th 2023 - 10:19 UTC

    Argentina: “Blue” dollar keeps soaring, June's inflation 6%

    The highest increase this year was in Communications (10.5%), as a result of the increase in telephone and Internet services

    The “blue” (a euphemism for “black market”) dollar hit another record Thursday in Argentina, closing at AR$ 512 / US$ 1, for a total increase of AR$ 166 so far this year which represented a 48% rise since closing 2022 at AR$ 346, it was reported in Buenos Aires. The gap between the informal dollar and the official exchange rate stands at 93.7%.

  • Thursday, July 13th 2023 - 10:56 UTC

    Argentina: “Blue” dollar pierces AR$ 500 barrier

    Meanwhile, Massa held a working meeting with senior executives of firms associated with the Japan Business Federation (Keidanren)

    The “blue” (a euphemism for “black market”) dollar Wednesday pierced the AR$ $500 barrier and set a new record high, it was reported in Buenos Aires. Meanwhile, the official exchange rate also went up despite the Central Bank (BCRA) selling some of its reserves.

  • Wednesday, July 12th 2023 - 21:06 UTC

    China extends financial measures for the battered real estate to the end of 2024

    Measures are part of the 16-policy support package announced in November 2022, which also includes support for embattled property firms and the rental market

    China's top financial regulators announced this week that financial support measures for qualified real estate developers, taken in November 2020, will be extended through the end of 2024, in order to continue to guide more financial support for firms and to ensure deliveries of homes.

  • Wednesday, July 12th 2023 - 20:39 UTC

    Brazilian June inflation reaches record low; interest rate fall anticipated in August

    The annual inflation rate is now below the bank’s 3.25% target for this year while underlying measures of inflation also saw drops on the month.

    Brazil’s annual inflation released on Tuesday showed consumer prices rose 3,16% year to year, down from 3,94% in May. This means annual inflation has dropped from the 12,13% peak in 2022 clearing the way for the central bank to begin cutting interest rates at its next meeting.

  • Wednesday, July 12th 2023 - 10:22 UTC

    Number of Brazilians in debt on the rise

    For CNC President José Roberto Tadros, the Brazilian economy is going through a scenario of growing debt and default

    According to the monthly Consumer Indebtedness Survey (Peic) from the Brazilian National Confederation of Commerce of Goods, Services, and Tourism (CNC) released Tuesday, 78.5% of the families in South America's largest economy are indebted and behind in their payments, Agencia Brasil reported.

  • Wednesday, July 12th 2023 - 10:12 UTC

    Former Latin American presidents promote regional development

    It is crucial that we continue to work tirelessly, Wasmosy said during the event's opening ceremony

    At least 15 former Latin American presidents convened in Asunción for the two-day 2023 Latin American Forum of Ideas held at the South American Football Confederation's (Conmebol) Convention Center in Luque, Paraguay. The opening ceremony was attended by incumbent President Mario Abdo Benítez.

  • Wednesday, July 12th 2023 - 10:08 UTC

    Argentina: “Blue” dollar hits new record high

    Massa is regarded as someone who can bring on stability

    The “blue” (a euphemism for “black market”) dollar closed at AR$ 493 / AR$ 498 (buy / sale) Tuesday, hitting an all-time high following an AR$ 5 increase so far this week, it was reported in Buenos Aires financial circles. At some point Tuesday it reached AR$ 499.

  • Tuesday, July 11th 2023 - 08:29 UTC

    LatAm lures record foreign direct investment in 2022

    Brazil accounted for 40.7% of the FDI

    According to a report from the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) released Monday, Latin America and the Caribbean attracted a record volume of foreign direct investment (FDI) in 2022 with US$ 224.58 billion injected, which represented a 55.2% increase from 2021.

  • Saturday, July 8th 2023 - 11:05 UTC

    Inflation projections better than a month ago in Argentina

    Inflation projections better than a month ago in Argentina

    The Argentine Central Bank's (BCRA) monthly Market Expectations Survey (Relevamiento de Expectativas del Mercado - REM) for June released Friday forecasts inflation to reach 142.4% by the end of 2023. The study details the forecasts of institutions, companies, organizations, and specialists on the evolution of the main economic variables.

  • Friday, July 7th 2023 - 10:16 UTC

    Massa holds online meeting with Egypt's finance minister

    Massa (L) and Maait also stressed the importance of not resorting to “generic recipes” that do not distinguish the particular realities of each country

    Argentina's Economy Minister Sergio Massa held a working online meeting Thursday with his Egyptian counterpart Mohamed Maait to coordinate policies in multilateral spaces aimed at promoting the inclusive development of middle-income countries, taking into account the challenges posed by the new global financial architecture, it was reported in Buenos Aires. The two countries' relationship with the International Monetary Fund (IMF) was also discussed.