Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, December 6th 2025 - 19:27 UTC

Economy

  • Friday, March 8th 2024 - 10:54 UTC

    Argentina: Libertarian gov't wants wage hike for lawmakers reversed

    Menem will seek to have the wage increase repealed as per Milei's instructions

    Argentina's Lower House Speaker Martin Menem admitted Thursday that a bill was to be submitted to backtrack on the resolution granting wage increases of nearly 30% to lawmakers amid strict austerity measures affecting most of the country's population, particularly the more vulnerable.

  • Thursday, March 7th 2024 - 10:17 UTC

    Argentine lawmakers from the “political caste” get wage increase

    Martín Menem hired his nephew as his personal assistant

    Argentine Vice President Victoria Villarruel as head of the Senate and Lower House Speaker Martín Menem agreed to increase the wages of lawmakers by nearly 30% effective from January 1, it was reported Wednesday in Buenos Aires.

  • Wednesday, March 6th 2024 - 10:55 UTC

    Argentina: Milei pledges to lower taxes soon

    Milei also pointed out that State expenditures were cut down 30% in January and another 36% last month

    Argentine President Javier Milei said Tuesday at the Expoagro 2024 rural event in the city of San Nicolás in the province of Buenos Aires that “by improving the fiscal numbers, the door would be opened for us to start lowering taxes.”

  • Wednesday, March 6th 2024 - 09:59 UTC

    Paraguay reports 0% inflation in February, but at what cost?

    Paraguay today has the strongest macroeconomic scenario in Latin America, President Santiago Peña said earlier this year in Spain

    Paraguay's Central Bank (BCP) announced this week that inflation in February amounted to 0% from January's values despite increases in education and food, particularly eggs, it was reported in Asunción. In the same month last year, the Consumer Price Index (CPI) had gone up 0.5%. However, these achievements have a price tag.

  • Wednesday, March 6th 2024 - 09:59 UTC

    Beijing ambitious 2024 growth target, 5%, but economists and circumstances are not convinced

    Premier Li Qiang said China plans to issue US$ 139 billion in treasury bonds over the next few years while offering support to debt-laden local governments

    China on Tuesday announced an ambitious economic growth target of 5% for 2024, vowing to “seek progress while maintaining stability” amid a sluggish economy and weak confidence among investors and consumers. This contrasts with the 5,2% reported for 2023 and 3% during 2022.

  • Tuesday, March 5th 2024 - 10:41 UTC

    Brazil: Services sector driving prices upward, BCB President warns

    The BCB will pursue the inflation target to the letter but the market still expects it to be higher, Campos Neto pointed out

    Brazil's Central Bank (BCB) President Roberto Campos Neto said on Monday that inflation in South America's largest country was taking a turn in a “benign” direction, Agencia Brasil reported. In his view, the services sector requires the most attention because it has “started to put a bit of pressure” on prices.

  • Tuesday, March 5th 2024 - 10:26 UTC

    Lula and Georgieva hold a “good conversation”

    Lula insisted that the IMF needs to be “more representative of today's world”

    Brazilian President Luiz Inácio Lula da Silva Monday suggested International Monetary Fund (IMF) Managing Director Kristalina Georgieva should move on with the reform of the credit agency, among other issues they discussed during their “good conversation” in Brasilia where they also reviewed “social inclusion” and the “Poverty in the world” project.

  • Monday, March 4th 2024 - 10:39 UTC

    Milei's policies leave almost no Urguayans shopping across the border

    Prices in Argentina are no longer that attractive to Uruguayan consumers who used to cross the bridge between Fray Bentos and Gualeguaychú to do their shopping

    Business owners in the city of Gualeguaychú in the Argentine province of Entre Ríos are foreseeing increasing losses after the latest economic measures by President Javier Milei's administration have resulted in fewer Uruguayans crossing the border to do their shopping as prices are no longer considerably lower.

  • Monday, March 4th 2024 - 10:23 UTC

    Retail sales drop 25.5% year-on-year in Argentina

    “In terms of prices, February had less uncertainty than November, December, and January,” CAME also explained

    A study released Sunday by the Argentine Confederation of Medium-Sized Companies (CAME) showed a 25.5% interannual decline at constant prices in retail sales in Argentina and a 27% drop for the first two months of 2024, it was reported in Buenos Aires. The Index of Retail Sales of SMEs also mentioned a 7.4% setback from January, when a 6.4% monthly decrease had been recorded.

  • Saturday, March 2nd 2024 - 10:57 UTC

    Milei launches “May Pact” offer to governors in exchange for financial aid

    Milei chose Córdoba for the historical agreement because it is “the country's foundational place in terms of knowledge”

    Argentine President Javier Milei Friday announced he was summoning the governors of the 23 provinces plus the mayor of the Autonomous City of Buenos Aires as well as former heads of state and other political leaders to sign on the national May 25 holiday what he named “the May Pact,” a foundational agreement whereby the rules of the country's future would be laid out. He launched this appeal during his speech opening the 142nd Legislature.