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MercoPress, en Español

Montevideo, April 19th 2024 - 11:49 UTC

Economy

  • Friday, March 1st 2024 - 10:06 UTC

    Interannual figures highlight contrasting realities in Brazil and Argentina

    In Argentina, mass consumption contracted 3.8% year-on-year while in Brazil it grew 1.2%

    Reports released Thursday showed contrasting realities between South America's two largest countries. While consumption grew 1.2% interannually in January, according to the Brazilian Association of Supermarkets (Abras), the situation was quite the opposite in Argentina due to rampant inflation outpacing wage updates.

  • Thursday, February 29th 2024 - 13:32 UTC

    President Milei anticipates decree-based economic reforms, stating Parliament's obstacles

    Addressing concerns about potential social unrest, Milei dismissed the notion unless incited by politically motivated events or foreign interference.

    Argentina's President Javier Milei, ahead of his first appearance before the Congress of the Nation for the opening of ordinary sessions, has signaled a proactive approach to economic reform. In an interview with the Financial Times, Milei emphasized his intent to implement reforms “by decree,” citing challenges in garnering parliamentary support due to the current composition.

  • Thursday, February 29th 2024 - 11:40 UTC

    EU-Mercosur deal not this year, Peña says

    Neither Mercosur nor Paraguay will stand idly waiting for Europe's decisions, Peña stressed

    Paraguayan President Santiago Peña, who holds the pro-tempore presidency of the South American Common Market (Mercosur), ruled out Wednesday in Madrid an agreement with the European Union (EU) this year while insisting that his trip to Spain was more to offer than to ask.

  • Thursday, February 29th 2024 - 11:23 UTC

    Air industry workers' strike leaves thousands stranded in Argentina

    It was an irresponsible thing to do, Adorni said

    Thousands of air travelers were stranded Wednesday as workers of the Argentine airline industry went on strike for 24 hours in rejection of a 12% wage increase that in no way matches the country's rampant inflation.

  • Thursday, February 29th 2024 - 11:12 UTC

    Argentina's Economy Minister meets with Georgieva in Brazil

    Georgieva insisted that an eye must be kept on the most vulnerable insisted that an eye must be kept on the most vulnerable

    Argentina's Luis 'Toto' Caputo and International Monetary Fund (IMF) Managing Director Kristalina Georgieva met Wednesday in Sao Paulo on the sides of the two-day G20 summit of Economy Ministers. The gathering took place less than a week after the visit to Buenos Aires of the IMF Managing Director Gita Gopinath, with whom Caputo and President Javier Milei discussed a new agreement on the South American country's debt.

  • Wednesday, February 28th 2024 - 17:29 UTC

    Brazil promotes manufactured exports with BNDES incentives

    From this week, the reduced spread will be capped at R$150 million per operation, with an additional budget infusion of R$2 billion earmarked for this modality.

    Brazil's Development Bank, BNDES, with a larger annual turnover than the World Bank is propping the country's manufacturing exports with new incentives tailored to support companies engaged in global trade. Under the new conditions the bank is implementing a substantial reduction of up to 60% in the spread of operations within the BNDES Exim Pre-shipment line.

  • Wednesday, February 28th 2024 - 10:35 UTC

    Argentina Leading steel producer to cut output due to crisis

    “We stop production to adjust the level of stock to the lower current and projected sales,” an Acindar executive explained

    Argentine steel producer Acindar will stop output at its four plants in the country between March 18 and April 15 as a result of the country's recession which led to a drop in sales of around 40%, it was announced Tuesday.

  • Tuesday, February 27th 2024 - 10:50 UTC

    Caribbean countries: a big player in many crucial areas, IDB says

    The region’s experience, expertise, resilience, and leading role in climate preparedness is an example for the world,” Goldfajn said

    The Inter-American Development Bank (IDB) Group concluded after its XII Annual Consultation meeting with Governors of IDB Caribbean members on Feb. 23 and 24 in Georgetown that the Caribbean might be small in size but is nonetheless a “big player” in many crucial areas, it was reported from the Guyanese capital.

  • Monday, February 26th 2024 - 11:15 UTC

    UK businesses begin to feel the squeeze of the Red Sea conflict

    More than a third of firms admitted higher shipping costs and delays, and more than half among exporters, which BCC said could lead to higher prices in UK

    British firms are facing higher shipping costs and delays of up to four weeks due to Houthi attacks in the Red Sea, according to a survey from the British Chamber of Commerce (BCC). More than a third of firms admitted the situation, but the figure rose to more than half among exporters responding to the survey, which the BCC said could lead to higher prices in the UK economy overall.

  • Saturday, February 24th 2024 - 10:24 UTC

    Argentina: Chubut Governor threatens to cut oil supply if federal funds are withheld

    “We will use all the tools we have to defend ourselves,” Torres warned

    Chubut Governor Ignacio Torres Friday warned Argentine President Javier Milei that his province would stop exporting oil if the federal administration insisted on “improperly withholding half of the [so-called] co-participation” funding. “If on Tuesday there is no resolution from the courts, we will not export even one more barrel of oil,” threatened Torres, whose stance was endorsed by several fellow governors and also by Buenos Aires Mayor Jorge Macri.