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MercoPress, en Español

Montevideo, September 21st 2024 - 10:28 UTC

Economy

  • Thursday, June 20th 2024 - 19:17 UTC

    Montevideo remains the most expensive city in the region

    The Uruguayan capital ranked 42nd in the world according to Mercer's list released this week

    Montevideo remained South America's most expensive place to live according to the Mercer Ranking released this week, closely followed by Buenos Aires, a place that has been moving up fast since President Javier Milei's Dec. 10, 2023, inauguration. The list helps multinational employers plan their strategies regarding compensations and other expenses, it was explained. Hong Kong stayed at the top, followed by Singapore, and Sitzerland's Zurich, Geneva, and Basel.

  • Thursday, June 20th 2024 - 15:25 UTC

    Fearing inflation ahead, Brazil's central bank leaves basic rate unchanged at 10,50%

    Brazil's central bank decisions are key since for many regional economies, in the short list of trade partners figures strongly Brazil and the Real currency.

    With budget overspending and prospects of higher inflation in weeks ahead, the Brazilian central bank, independent from the Executive, kept the Selic rate unchanged at 10.50%. This means there are no expectations for a resumption of the rates easing cycle this year.

  • Wednesday, June 19th 2024 - 20:14 UTC

    Argentina: Milei reckons June's inflation to rebound

    Failing to reach a zero fiscal deficit is also the consequence of politicians delaying the approval of the so-called Bases Law, Milei argued

    Argentine President Javier Milei admitted that his country's process of curbing inflation would be making “a pause” from the 4.2% the National Institute of Statistics and Census (Indec) announced for May this year. In addition to a rebound in the decline, there will be no zero deficit, the Libertarian leader also admitted.

  • Wednesday, June 19th 2024 - 19:26 UTC

    Hike in electricity bills burdening Chile's inflation policy

    Chile needed not to repeat Argentina's disproportionate fare increases, Ramos explained

    A recent increase in electricity bills has Chile's Central Bank needing to postpone getting the South American country's inflation under control, according to the Monetary Policy Report (IPoM) for June 2024 released Wednesday.

  • Tuesday, June 18th 2024 - 09:26 UTC

    Brazil among less competitive economies but better than Argentina

    “We are suffocating the Brazilian productive chain,” Tadeu explained

    According to a report released this week by the Swiss Business School's Institute for Management Development (IMD), Brazil ranked 62nd this year after falling two notches in the list drawn considering statistics and opinion polls among businesspeople.

  • Monday, June 17th 2024 - 19:14 UTC

    Paraguay's potential highlighted by leading international outlet

    Among other items, Paraguay stands out for its 0.1% greenhouse gas emissions

    Paraguay's latest achievements as a top Latin American destination for foreign investments have been highlighted by One World Media. The outlet praised the South American country's macroeconomic and political stability coupled with its natural resources, strategic position, and gender equality regulations.

  • Monday, June 17th 2024 - 18:14 UTC

    IMF: Argentina's economic activity projections worse than thought

    Argentina's return to international capital markets could happen as early as 2025, the IMF also foresaw

    Monday's International Monetary Fund (IMF) projected a 3.5% drop in Argentina's economic activity this year from a previous 2.75% assessment but admitted inflation would be lower than previously thought reaching 140% year-on-year by the end of 2024 in addition to “declining further in the medium term, as demand for pesos recovers from historically low levels.”

  • Friday, June 14th 2024 - 22:02 UTC

    G7: Milei mingles with world leaders but no picture with Lula

    Milei spent quite a while next to Biden

    Argentine President Javier Milei began mingling with the elite of the global leadership Friday at the exclusive Italian resort of Borgo Egnazia where the G7 Summit is taking place. Although the South American country is not a member of the group pitting together the seven largest world economies, he attended as a guest at the invitation of host Prime Minister Georgia Meloni who welcomed him personally.

  • Friday, June 14th 2024 - 09:30 UTC

    Argentina's Indec says May's CPI reached 4.2%

    Minister Caputo celebrated what he deemed to be another achievement in curbing inflation

    Argentina's National Institute of Statistics and Census (Indec) announced Thursday that the Consumer Price Index (CPI) had grown 4.2% in May, which was celebrated by the Libertarian administration of President Javier Milei as another sign of a slow victory over inflation despite the 71.9% recorded in the first five months of 2024 and the 276.4% yoy.

  • Friday, June 14th 2024 - 07:57 UTC

    Milei's trip to China announced but not confirmed

    During his appearance at the G7 Summit in Italy, Milei is scheduled to hold one-on-one talks with fewer world leaders than Brazil's Lula

    After reaching the presidency of Argentina on diatribes against “lefties” and “Communists,” it was reported Thursday in Buenos Aires that Javier Milei would be traveling to Beijing for a meeting on July 4 with Xi Jinping, who insisted on the South American leader's presence for the signing of the extension of a US$ 5 billion currency swap that saved the Libertarian administration from maturities this month and the next.