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MercoPress, en Español

Montevideo, September 21st 2024 - 09:01 UTC

Economy

  • Tuesday, August 13th 2024 - 07:44 UTC

    Delfim Netto: architect of modern Brazilian economy has died

    Economy minister from 1967 to 1974, under his helm the Brazilian economy expanded at an average annual rate of 10%, still the fastest on record.

    Antonio Delfim Netto, a former Brazilian finance, agriculture and planning minister, plus advisor of several presidents, both under military and elected regimes, considered one of the architects of the transformation of the country's economy has died in Sao Paulo.

  • Tuesday, August 13th 2024 - 07:39 UTC

    July consumer prices up in Brazil; central bank ready to raise interest rates to fight inflation

    Inflation in 12 months through July was 4,50%, up from 4.23% in June, according to IBGE, and the upper limit of the tolerance band for the central bank's target

    Prices in Brazil were up 0.38% in July, stats office IBGE said on Friday, accelerating from the 0.21% increase reported in June and exceeding an economists' poll forecast of a 0.35% monthly rise.

  • Thursday, August 8th 2024 - 17:48 UTC

    Argentina lowers levy on beef exports, farmers happy but the overall policy questioned

    The latest numbers from meat exporters shows that China takes 81% of Argentine beef sales, Israel 6%, United States 5%, Germany 4% and Netherlands 3,6%.

    The Argentine government is lowering beef export tax 25%, from 9% to 6,75% basically “to promote sales to foreign markets and improve the level of income of producers and processors, favoring the insertion of Argentina in international markets”, points out the decree published on Tuesday in the Official Gazette.

  • Thursday, August 8th 2024 - 09:56 UTC

    Argentine breeders in UK tour of meat and dairy technology centres

    The Palermo agriculture and livestock expo where the best of Argentine breeds compete for the top prizes, and is also an opportunity for the display of new technologies and farming practices

    June, July, August are months of the austral winter and Argentina, southern Brazil, Paraguay, Uruguay hold their main livestock shows, (Palermo, Esteio, Roque Alonso and Prado) including a display of the latest technology advances in cattle feeding and breeding.

  • Thursday, August 8th 2024 - 09:24 UTC

    Brazil records US$ 7.6 bi trade surplus in July

    Sales to Argentina continued to drop as a result of the latter's seemingly endless crisis

    Given that sales abroad reached an all-time high of US$ 30.9 billion in July, Brazil recorded a foreign trade surplus of US$ 7.6 billion, according to data released Tuesday by the Ministry of Development, Industry, Trade, and Services, which represented a 6.6% drop from the US$ 8.2 billion surplus in July 2023, Agencia Brasil reported.

  • Thursday, August 8th 2024 - 09:11 UTC

    Former CFK Trade Secretary handed down 3-yr sentence

    “After 14 years the Judiciary says Indec's public statistics are correct,” Moreno underlined

    Former Argentine Domestic Trade Secretary Guillermo Moreno was sentenced to three years in jail and imposed a six-year disenfranchisement. According to local media, he was found guilty of rigging the data published by the National Institute of Statistics and Census (Indec) between 2006 and 2007 under then-President Cristina Fernández de Kirchner (CFK).

  • Tuesday, August 6th 2024 - 20:31 UTC

    BCB's Copom would not hesitate to up Selic if need be

    Economic activity above expectations has led Brazil to the current situation

    Brazil Central Bank's Monetary Policy Committee (Copom) warned that it would not hesitate to up the basic Selic interest rate to make sure inflation meets the target if necessary.

  • Tuesday, August 6th 2024 - 10:16 UTC

    Uruguay's YoY inflation up but still within target range

    Sugar went down 10.81%, the INE reported

    Uruguayan authorities released a report Monday showing that year-on-year inflation stood at 5.45% in July, thus remaining within target range although dangerously approaching its upper limits. According to the National Institute of Statistics (INE), the Consumer Price Index (CPI) recorded a monthly variation of 0.11% and accumulated an increase of 3.73% so far this year.

  • Monday, August 5th 2024 - 21:36 UTC

    “Black Monday” hits stock exchange markets worldwide

    A dwindling US economy amid geopolitical tensions worldwide added to the negative trend, it was reported

    Plunging Asian stock markets set off a domino effect “Black Monday” on Aug. 5. For Japan's Nikkei, a 12.4% drop was its second-deepest ever. As a result, fears of a recession in the United States have mounted following last week's global falls.

  • Saturday, August 3rd 2024 - 09:40 UTC

    Argentina decrees 63% hike on Paraná-Paraguay Waterway tolls

    The new price was set taking into account the CPI over the last 22 years, it was explained

    The Argentine administration of President Javier Milei decreed a 63% hike in the tolls collected from barges sailing through the Paraguay-Paraná Waterway effective this month. The adjustment set a new price of US$ 4.98 (from the previous US$ 3.06) per Net Register Ton (NRT). The figure is projected to reach US$ 6.04 per TRN in 2027.