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MercoPress, en Español

Montevideo, November 24th 2024 - 10:28 UTC

Economy

  • Tuesday, May 9th 2023 - 10:55 UTC

    Talks between Argentina and IMF “progressing constructively”

    Argentina hopes the IMF makes all of its 2023 disbursements next month

    The International Monetary Fund (IMF) admitted negotiations with the Argentine Government were still going on toward a redesigning of the country's program in light of the present drought, while Casa Rosada sources agreed that “the conversations” were “progressing constructively.”

  • Monday, May 8th 2023 - 10:21 UTC

    Brazil: Millions could fall into poverty unless proper investing is done

    Green technologies are gaining space, and this affects demand, one of the authors of the World Bank's study found

    Millions of Brazilians could be thrown into extreme poverty in the next few years due to weather-related phenomena, a report released last week by the World Bank showed.

  • Saturday, May 6th 2023 - 11:16 UTC

    Ecuador bonds in debt for nature swap includes promise to upgrade Galapagos Islands conservation

    With Ecuador in severe financial turmoil, the bonds were trading well below face value as investors considered non-repayment to be likely

    In a debt for nature swap, Credit Suisse has announced buying Ecuadorian bonds worth US$1.6 billion. With Ecuador in severe financial turmoil, the bonds were trading well below face value as investors considered non-repayment to be likely. Effectively, Ecuador has now bought its own debt back at a knock-down price via a fresh loan from Credit Suisse.

  • Saturday, May 6th 2023 - 11:00 UTC

    Latin America needs to take climate change seriously, says Moody's

    Brazil, Mexico, and Argentina are the leading CO2 emitters in the region, accounting for about 70 % of the GDP generated in the region

    According to a Moody's Analytics report published this week, Latin America will lose productivity to climate change if it does not take swift action. The document titled “Latin America under the risk of climate change” explained that governments, companies, and financial institutions should adopt preventive measures to reduce carbon emissions, in order to mitigate eventual damages caused by climate change.

  • Saturday, May 6th 2023 - 10:54 UTC

    Central Bank report corrects Argentina's inflation projections upwards

    For the next twelve months, the REM anticipates inflation will reach 146.5%.

    According to the Argentine Central Bank's (BCRA) Market Expectations Survey (Relevamiento de Expectativas de Mercado - REM) report published Friday, the panel of economists issuing that document has made an upward correction to their inflation forecasts for 2023, placing it at 126.4%, or 16.4 percentage points above April's projections, while last month's Consumer Price Index (CPI) is believed to be of 7.5%. The National Institute of Statistics and Census (Indec) will release the official data on May 12.

  • Friday, May 5th 2023 - 10:10 UTC

    Argentina gets new loan from the IDB

    The new deal is in addition to one granted the day before

    The Interamerican Development Bank (IDB) has granted Argentina a US$ 150 million loan to strengthen educational access for school-age youth in the province of Buenos Aires, it was announced Thursday. This new credit is in addition to another one granted the day before in the amount of US$ 265 million, to boost the inclusion of people with disabilities.

  • Thursday, May 4th 2023 - 10:40 UTC

    “Argentina extremely cheap,” says Uruguayan president

    “Naturally the residents of the coastal cities consume where it is cheaper for them,” Lacalle admitted

    Uruguayan President Luis Lacalle Pou said his country has a problem with prices in Argentine being so low due to a favorable exchange rate that people cross the border to do their shopping.

  • Thursday, May 4th 2023 - 10:10 UTC

    US Fed raises interest rate yet again

    Further rate increases by the Federal Reserve may lead to recession, it is feared

    The US Federal Reserve Wednesday upped its benchmark interest rate by a quarter point to between 5% and 5.25%, its highest level in 16 years, which further tightened credit for businesses and consumers, it was announced.

  • Wednesday, May 3rd 2023 - 11:55 UTC

    Lula promises to help his “friend” Alberto Fernández

    Alberto may fly back to Argentina calmer, Lula said. “It is true that without any money, but with a lot of political disposition...”

    Argentine President Alberto Fernández Tuesday thanked his Brazilian colleague Luiz Inácio Lula da Silva for the latter's commitment to helping Argentine overcome the current crisis: “I celebrate the explicit support that Lula has given us as a country and as a government,” Fernández said after the meeting at the Alvorada Palace. He also highlighted Lula's pledge to strengthen Brazilian exports and support negotiations with the International Monetary Fund (IMF).

  • Wednesday, May 3rd 2023 - 11:23 UTC

    Chile's March economic activity indicator contracts 2,1%, with the largest falls in mining and manufacturing

    This is also the second month running economic contraction and the largest fall since last November when the Chilean economy collapsed minus 3,3%.

    Chile's monthly economic activity indicator, Imacec, contracted in March 2,1% compared to the same month in 2022, according to the latest report from the country's Central Bank. The indicator is located in the pessimist area of analysts' expectations who were anticipating a drop of minus 1,7% to minus 2%, following the latest reports of industrial production and commerce activity during March. This is also the second-month running contraction and the largest fall since last November when the Chilean economy collapsed minus 3,3%.