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MercoPress, en Español

Montevideo, September 21st 2024 - 09:15 UTC

Economy

  • Wednesday, July 3rd 2024 - 21:23 UTC

    Argentine province has its own money... again

    Large-denomination Chachos might come in more handy for hefty transactions

    The Argentine province of La Rioja finally made do with its promise to issue a pseudo-currency of its own to meet debts within its territory. Officially named Debt Cancellation Bonds (Bocade), La Rioja's money is better known as “Chacho” whereby “1 Chacho = 1 Argentine peso.”

  • Tuesday, July 2nd 2024 - 19:48 UTC

    Hurricane Beryl marks early season beginning

    Beryl caused significant damage in Grenada killing at least three and is expected to hit Mexico and Belize later this week

    After reaching category 5 in the Caribbean, Hurricane Beryl was not feared to reach Colombia's Caribbean shores but would nevertheless significantly affect navigation in the area. Strong winds hit Jamaica late Monday, sweeping away power lines and flooding the streets of other islands such as Grenada, it was also reported.

  • Tuesday, July 2nd 2024 - 10:50 UTC

    All red numbers as Argentina enters “Phase 2” of its economic plan

    Caputo said the peso would become a strong currency, distancing the government from campaign promises announcing a dollarization

    Local and international markets alike did not react well Monday after Argentine Economy Minister Luis 'Toto' Caputo and Central Bank (BCRA) CEO Santiago Bausili tried to explain the Libertarian administration's next steps to stabilize the economy of South America's second-largest country.

  • Monday, July 1st 2024 - 09:35 UTC

    CFK: The Libertarians' zero deficit is a fabrication

    Milei “lives in a world that no longer exists,” CFK argued

    Former Argentine President Cristina Fernández de Kirchner (2007-2015 / CFK) said during an interview on the internet streaming channel Gelatina outside mainstream media that the Liberal administration's “fiscal surplus is increasingly trumped up.”

  • Saturday, June 29th 2024 - 10:18 UTC

    Paraguay and Argentina set roadmap for collaborative work

    Foreign Ministers Ramírez (L) of Paraguay and Mondino of Argentina reviewed bilateral issues on the side of the OAS General Assembly

    Paraguay and Argentina reached an understanding regarding the Paraná-Paraguay River Waterway after Foreign Ministers Rubén Ramírez Lezcano and Diana Mondino gathered in Asunción on the sides of the Organization of American States (OAS) General Assembly.

  • Saturday, June 29th 2024 - 09:28 UTC

    Brazil: Dollar soars, unemployment falls

    The last working day of the semester is marked by strong demand for dollars from multinationals sending profits abroad

    The economy in South America's largest country is taking a shaky turn as Friday's figures would indicate. The exchange rate between the local real (R$) and the US dollar (US$) went up 15.15% over the past six months, closing at US$ 1 = R$ 5.58 while the Stock market fell 0.32% for a 1.49% monthly gain. On the brighter side, unemployment in the quarter ending in May stood at 7.1%, according to Brazil's Institute of Geography and Statistics (IBGE), a considerable improvement from February's 7.8% and the yoy 8.3%.

  • Friday, June 28th 2024 - 19:49 UTC

    Paraguayan President reminded that “impunity discourages foreign investment”

    The US and Paraguay are allies and strategic partners in tackling corruption, Verma pointed out

    US Under Secretary of State for Management and Resources Richard Verma, who heads his country's delegation before the Organization of American States (OAS) 54th General Assembly in Asunción, met Thursday afternoon with Paraguayan President Santiago Peña, with whom he discussed the devastating effects of corruption and impunity on the economy.

  • Friday, June 28th 2024 - 18:29 UTC

    Food industry is Brazil's main source of jobs, IBGE finds

    Brazil's Southeast accounted for 61.1% of the country's Industrial Transformation Value (ITV)

    The foodstuff industry accounted for the largest number of jobs (22.8%) in South America's largest country, according to a study released Thursday by Brazil's Institute of Geography and Statistics (IBGE). The clothing and accessories industry represented 7% of workplaces, and the manufacture of metal products (machinery and equipment not included), 5.9%.

  • Thursday, June 27th 2024 - 19:24 UTC

    Denmark plans to tackle animal gas emissions with a livestock tax

    Dairy farming is believed to contribute greatly to the production of human-related greenhouse gases

    Denmark's coalition government agreed this week to tax livestock owners the equivalent of US$96 per head per year from 2030 due to greenhouse gases produced by animal flatulence, Tax Minister Jeppe Bruus announced. The move on cows, pigs, and sheep is expected to result in a 70% reduction from 1990 levels by the end of the decade on the path to carbon neutrality, Bruus explained. “We will take a big step towards climate neutrality in 2045,” he emphasized. The tax is expected to be approved by Parliament later this year.

  • Wednesday, June 26th 2024 - 10:51 UTC

    Milei's alleged success under questioning from studies measuring people's reality

    The “blue” dollar reached a new all-time high

    While Argentine President Javier Milei tours the world boasting his administration's success in curbing inflation, local reports underscore deteriorating living conditions for most people in his country which seems to be heading for hyper-recession.