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MercoPress, en Español

Montevideo, November 21st 2024 - 23:21 UTC

Tag: economic crisis

  • Saturday, September 1st 2018 - 09:27 UTC

    S&P places Argentina credit ratings under review

    S&P cited the risk of worsening creditworthiness and exchange rate volatility as potential threats to the economic measures undertaken by Macri’s administration

    S&P said on Friday it may lower Argentina's long-term foreign currency rating from its current B+ grade, which is four notches below investment grade -- and on par with Turkey, Greece and Fiji. The ratings company cited the risk of worsening creditworthiness and exchange rate volatility as potential threats to the economic adjustment measures undertaken by Mauricio Macri’s administration.

  • Thursday, August 30th 2018 - 08:29 UTC

    Migrants returning to Venezuela following Maduro's promise of jobs

    Many of the migrants traveling home on Monday complained of xenophobia against Venezuelans as Peru and other countries in the region cope with the influx

    A group of Venezuelan migrants has returned home from Peru at the expense of Nicolas Maduro's government. Facing an exodus from Venezuela, Maduro had proclaimed his countrymen “won't be slaves to anyone in the world.”

  • Wednesday, August 22nd 2018 - 09:00 UTC

    Venezuelan businesses shut down shops to protest last monetary measures

    As a currency devaluation and package of economic measures went into effect, the opposition asked storekeepers to shut up shop in protest

    Venezuela's streets were quieter than normal on Tuesday, as a currency devaluation and package of economic measures by populist president Nicolas Maduro went into effect, and the opposition asked storekeepers to shut up shop in protest. Venezuela on Monday cut five zeros from prices and pegged the country’s currency to an obscure state-backed cryptocurrency, as part of a broad set of measures meant to address hyperinflation and an economic crisis.

  • Tuesday, January 2nd 2018 - 10:20 UTC

    Hyperinflation that degrades any salary increase

    There was registered an increase in the price of more than 100% of several foods this month, some of which exceeded their cost by 1,500% in the course of 2017.

    A new salary increase arrived to Venezuela -the seventh in a year-, but the purchasing power of Venezuelans continues insignificant compared to the high price of low supply due to hyperinflation. While it is not possible to slow down the variation of prices in the different products of the basic basket, any wage increase is insufficient and exacerbates the problem. In one year, salary increased 511%, while inflation in 2017 closed at 2.735%, the highest in the world.

  • Friday, December 22nd 2017 - 23:09 UTC

    Venezuela's shortage of cash means big business for some

    Cash is not available at Venezuelan banks in sums exceeding 10,000 Bs, (the price of 2 eggs), and usually in banknotes of 20 to 100 Bs.

    In view of the hyperinflation in their country, Venezuelans have developed “creative” forms of business.

  • Tuesday, August 9th 2011 - 21:09 UTC

    Argentina (and South America) “prepared to face rich countries economic crisis”

    “Argentina condensed its debts to spawn growth” said Minister Boudou

    Argentina’s Minister of Economy and President Cristina Fernández de Kirchner running mate for the upcoming presidential elections Amado Boudou stressed Tuesday that the country is ready to face the recent international economic crisis that has pushed world markets down for the past week.

  • Wednesday, July 27th 2011 - 03:59 UTC

    “Dilma is completely able of running the country”, says Lula da Silva

    Lula da Silva, helping or further exposing Dilma’s weaknesses?

    Brazilian former president Lula da Silva criticized rich countries for their roll on the current economic crisis that has been changing the world’s economic map and once again came out forcibly in support of President Dima Rousseff.

  • Wednesday, June 1st 2011 - 08:34 UTC

    Mix of Belgian sacrifices and banks rolling over expiring bonds, proposal for Greece

    Olli Rehn, EU economic and monetary affairs commissioner

    European Union’s top economic official said a solution to keeping Greece solvent is combining bold deficit cuts reminiscent of Belgian sacrifices in the 1990s and willingness by lenders to roll over expiring bonds, adapting what was done in Eastern Europe two years ago.

  • Wednesday, June 30th 2010 - 20:55 UTC

    Cuban president sacks another (inefficient) minister: Light Industry

    Raul Castro is promoting an import-substitution economy

    Cuban president Raul Castro sacked Light Industry minister Jose Hermandez, the latest of an on-going cabinet reshuffle with the purpose of implanting a policy of import-substitution to address the growing economic crisis.

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