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MercoPress, en Español

Montevideo, September 21st 2024 - 09:15 UTC

Economy

  • Friday, July 19th 2024 - 20:46 UTC

    Caputo confirms Argentina shipped gold abroad

    The Economy Minister exulted in telling savers that they would end up selling their US dollars to pay taxes and make the peso a strong currency

    Argentina's Economy Minister Luis Toto Caputo confirmed rumors from opposition lawmakers and union leaders indicating that the Central Bank (BCRA) was transferring gold from the country's coffers to foreign destinations. He explained that the move sought to generate a return on an otherwise unproductive metal.

  • Wednesday, July 17th 2024 - 09:23 UTC

    Paraguay experiences record foreign trade in the first half of 2024

    Identifying sales by product category, primary goods exports, soy and wheat, totaled US$ 2.48 billion in six months, up 4.0% from the same period last year

    Paraguay exports marked a record sum in the first six months of 2024, having totaled, US$ 8,57 billion, the highest in the last five years and also a maximum diversification of markets in 136 different countries. Stats were supplied in a draft paper on foreign trade from the Paraguayan central bank.

  • Wednesday, July 17th 2024 - 09:16 UTC

    Brazil: inflation down in June, but also economic growth; Lula waiting to remove Central Bank chair in December

    The mandate of central bank governor Roberto Campos Neto, who was appointed by Jair Bolsonaro, President Lula da Silva’s predecessor, ends in December

    Inflation in Brazil measured by the IPCA was 0,21% in June, which is positive. Still, the twelve month figure was 4,23% against 3,93% in May according to the Brazilian Institute of Geography and Stats, IBGE.

  • Tuesday, July 16th 2024 - 20:19 UTC

    Argentina's economic fall worse than expected, IMF foresees

    The IMF tied an overall setback in Latin America and the Caribbean to Argentina's performance

    According to the latest issue of the International Monetary Fund's World Economic Outlook (WEO) report, Argentina's Gross Domestic Product (GDP) is expected to fall 3.5% in 2024, which represented a setback from the 2.8% predicted back in April. Regarding next year, the IMF kept the 5% growth projection unchanged.

  • Monday, July 15th 2024 - 10:33 UTC

    Argentine President warns of hard times ahead

    Milei announced a new intervention in the currency exchange market to bring down the “blue” dollar by making pesos even scarcer

    Argentine President Javier Milei downplayed this weekend from Sun Valley, Idaho, the importance of the “blue” (a euphemism for “black market”) dollar going up in his country. However, he warned of “difficult” weeks to come as his Government starts a new zero-money-issuing phase, which he dubbed “a new upgrade of the monetary policy.”

  • Saturday, July 13th 2024 - 10:22 UTC

    Argentina tops list of LatAm countries with the highest inflation for the 9th straight month

    The CPI went up 4.6% while all the other countries recorded variations below one digit.

    Argentina was found to boast the dubious honor of topping the list of Latin American countries with the highest inflation for the ninth month in a row after Friday's release by the National Institute of Statistics and Census (Indec) of the latest report regarding June's figures. The CPI went up 4.6% while all the other countries recorded variations below one digit.

  • Saturday, July 13th 2024 - 09:16 UTC

    IBGE finds 2% interannual growth in services

    The IBGE recorded no overall changes between April and May

    Services in South America's largest country grew 2% interannually in the first five months of 2024, according to a report released Friday by Brazil's Institute of Geography and Statistics (IBGE). Over the past 12 months through May, the index rose 1.3%. The sector accounts for about 70% of the country's gross domestic product (GDP). The sector also grew by 2.3% last year, making it the third in a row with positive figures.

  • Saturday, July 13th 2024 - 08:02 UTC

    Indec says Argentina's CPI in June reached 4.6%

    In this scenario, the “blue” dollar hit a new all-time high

    The Consumer Price Index (CPI) reached 4.6% last month in Argentina for a year-on-year 271.5%, according to a National Institute of Statistics and Census (Indec) survey released Friday. These figures also yielded a 79.8% increase in the first semester of 2024.

  • Saturday, July 13th 2024 - 07:21 UTC

    BBVA planning to leave Argentina?

    Successive economic hardships have affected profits in the banking industry; hence BBVA is said to have lost interest in Argentina

    Buenos Aires' financial circles are preparing for yet another departure of a banking giant from the South American country, according to leading economics reporter Mariano Gorodisch who hinted that BBVA would follow in HSBC's footsteps.

  • Friday, July 12th 2024 - 07:03 UTC

    Brazil speeds trade agreement with Palestine in the framework of Mercosur

    The latest Mercosur summit took place this week in Asunción, Paraguay when the rotating six month presidential chair went to Uruguay.

    This week Brazil deposited its instrument of ratification of the Free Trade Agreement between Mercosur and Palestine, which means the treaty is to come into force, between Brazil and the Palestine Administration, in thirty days. The instrument was deposited at last moment to Mercosur member Paraguay on July 3, when this country was still chair of the South American trade block. The information was released by the Brazilian Ministry of Foreign Relations. The following day the rotating presidency of Mercosur was handed to Uruguay.