Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, September 21st 2024 - 09:15 UTC

Economy

  • Tuesday, June 25th 2024 - 10:55 UTC

    Awkwardness surrounds Milei's presence in Prague

    “We are on the right path,” Milei insisted

    Argentine President Javier Milei Monday said from Prague that he would “probably” be awarded the Nobel Prize for “rewriting economic theory” with his administration's alleged achievements rescuing the South American country from hyperinflation and getting it back on track. Besides his political engagements with the Czech authorities, Milei's presence in town sparked another controversy regarding a new accolade he was presented after the organization allegedly behind the distinction said it had nothing to do with it.

  • Tuesday, June 25th 2024 - 10:28 UTC

    Paraguay's shipping business needs Paraná River dredged as soon as possible

    Some 9,000 people work in Paraguay's river shipping business

    Paraguay's Congress will be asked to declare a hydrological emergency in the Paraná River to speed up dredging after members of the Paraná Joint Commission (Comip) discussed the hydro-climatological last week and agreed on the next actions, Merchant Marine Director Patricio Ortega explained in Asunción.

  • Tuesday, June 25th 2024 - 09:41 UTC

    Brazil's yearly inflation projection adjusted slightly upwards

    According to the Brazilian Institute of Geography and Statistics (IBGE), the IPCA has accumulated 3.93% in 12 months

    Brazil's Central Bank (BCB) Monday released the latest edition of its Focus Bulletin showing a slight upward adjustment in the Broad National Consumer Price Index (IPCA) from 3.96% to 3.98% this year, Agencia Brasil reported. The index is considered the country's official inflation. The weekly survey among leading financial institutions also projected an increase from 3.8% to 3.85% next year while for 2026 and 2027 the forecasts were 3.6% and 3.5% respectively.

  • Monday, June 24th 2024 - 18:29 UTC

    India forecasted to become fourth and third world economy in one to three years

    Finance Minister Nirmala Sitharaman said that India is expected to overtake Japan and Germany to emerge as the world's third-largest economy by 2027

    India is set to become a US$ 4 trillion economy in 2025,surpassing Japan by early next fiscal to become the world's fourth largest economy, Indian Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said last week, confirming the IMF half year World Economic Outlook database.

  • Saturday, June 22nd 2024 - 10:00 UTC

    Lacalle highlights role of SMEs in Uruguay's economy

    Lacalle also recalled the State's role in supporting SMEs through the Covid-19 pandemic

    Uruguayan President Luis Lacalle Pou insisted Friday on the importance of SMEs for his country's economy. During a speech at the Midland Hotel & Resort in Paso de los Toros, in the department (province) of Tacuarembo, the head of state argued that his government lowered taxes on small businesses because they drove local activity, and to govern a country you have to know its human geography.

  • Saturday, June 22nd 2024 - 09:37 UTC

    Lula believes Selic should have been lowered

    After Dec. 31 Lula will have the opportunity to choose a new BCB CEO

    Brazilian President Luiz Inácio Lula da Silva was strongly critical of his country's Central Bank's (BCB) decision not to lower the benchmark Selic interest rate this week and leave it at 10.5% per annum instead.

  • Saturday, June 22nd 2024 - 06:20 UTC

    Falklands Rockhopper Exploration collects first tranche of Ombrina Mare payment

    ”We are delighted to have received the tranche one payment under the Ombrina Mare monetization agreement[, said CEO Samuel Moody

    Oil company Rockhopper Exploration PLC, with key interests in the Falkland Islands, on Friday, announced it had received the first tranche payment in relation to the monetization of its Ombrina Mare arbitration award, according to a report from Alliance News.

  • Friday, June 21st 2024 - 23:04 UTC

    Argentina records historic foreign trade surplus

    Imports are expected to grow as the Argentine peso appreciates against the US dollar

    Argentina recorded a historic foreign trade exchange surplus of US$ 2.656 billion in May, Argentina's Trade Exchange (ICA) reported Thursday in Buenos Aires. The new figures surpassed the previous record of US$ 2.543 billion from May 2009. So far in 2024, Argentina has accumulated a balance of + US$ 8.8 billion.

  • Friday, June 21st 2024 - 19:56 UTC

    Milei warns Spaniards of the dangers of Socialism

    “Argentina and Spain have a lot in common,” Ayuso told Milei when pinning the medal on his lapel

    Argentine President Javier Milei told attendees at a ceremony in the Spanish capital that “we come from the future to tell you a story that it is desirable to avoid: The story of the damage caused by socialism.” He made those remarks in the presence of Madrid Community Chairwoman Isabel Díaz Ayuso, who granted him the International Medal of the Madrid Community decoration.

  • Friday, June 21st 2024 - 10:00 UTC

    Paraguay's Central Bank keeps benchmark interest rate unchanged at 6%

    Cuts might be in order in the second semester of 2024, the BCP explained

    The Monetary Policy Committee (MPC) of Paraguay's Central Bank (BCP) unanimously decided Thursday to keep the benchmark interest rate at 6% for the fourth month in a row and found that cuts might be in order during the second semester of 2024 given the favorable economic indexes recorded recently.