Economy

Tuesday, May 7th 2024 - 19:43 UTC
FMI foresees rebound in Uruguay's economy

The Washington-based International Monetary Fund (IMF) released a report this week forecasting a “strong rebound” in Uruguay's economy this year. Driven by a surge in agricultural exports amid “balanced” macroeconomic risks, a 3.7% growth has been projected.
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Tuesday, May 7th 2024 - 19:19 UTC
Argentina is the promised land for businesspeople, Milei says

Argentine President Javier Milei told attendees at the Milken Institute's Global Conference in Beverly Hills that his country “has all the conditions to be the new Mecca of the West” and asked businessmen to help build “the new Rome of the 21st Century.”
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Tuesday, May 7th 2024 - 18:57 UTC
Paraguay: Waterway master plan called for amid discouraging weather forecast

Water levels below average at the Paraná-Paraguay river waterway have traders concerned over the future of their business. However, there seems to be consensus on the need to develop a master plan to tackle the grim situation stemming from discouraging precipitation forecasts despite abundant rainfall in recent weeks.
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Tuesday, May 7th 2024 - 14:52 UTC
Argentina introduces 10,000 peso banknotes amid soaring inflation

Argentina has introduced a new denomination of banknotes, the 10,000 peso bill (equivalent to about 10 U.S. dollars), in response to the country's ongoing struggle with high inflation. The Central Bank of Argentina (BCRA) announced that these new banknotes will gradually enter circulation starting this Tuesday and be available at bank branches and ATMs nationwide.
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Monday, May 6th 2024 - 20:34 UTC
After EU June elections, agreement with Mercosur can be reached: “A matter of time and timing”, EU negotiator

The Mercosur/European Union trade and cooperation agreement, “is a complicated process but it is also a matter of time and timing”, according to Rupert Schlegelmilch, chief EU negotiator of the accord who recently visited Mercosur country and associate members to meet government officials and business groups to confirm EU's determination to finish the deal.
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Monday, May 6th 2024 - 20:26 UTC
UK growth to remain sluggish this year, 0,4% and improving in 2025, OECD report

The United Kingdom GDP growth is projected to remain sluggish at 0.4% in 2024 before improving to 1.0% in 2025, reflecting the waning drag from past monetary tightening, according to the latest report from OECD, Organization for Economic Cooperation and Development.
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Saturday, May 4th 2024 - 10:59 UTC
Japanese PM discusses Mercosur FTA with Paraguay's President

Paraguayan President Santiago Peña and Japan's Prime Minister Fumio Kishida met Friday in Asunción to strengthen bilateral ties as well as to further discuss a free trade agreement (FTA) with the Southern Common Market (Mercosur). Peña, who holds the group's rotating presidency, expressed in a statement his “fervent desire” to “move forward with a free trade agreement between Mercosur and Japan.”
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Friday, May 3rd 2024 - 10:59 UTC
Uruguay: Exports grow 27% interannually in April

According to a study from the government's Uruguay XXI Institute released Thursday in Montevideo, the South American country's exports of soybeans, beef, live cattle, and cellulose drove the total sales abroad to a 27% growth in April from last year's figures during the same month and a 5% increase in the first third of 2024.
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Thursday, May 2nd 2024 - 19:39 UTC
Argentina's BCRA again lowers basic interest rates in less than one week

Argentina's Central Bank (BCRA) once again lowered the benchmark interest rate from 60% to 50%. It was the fifth cutdown since the Libertarian administration of President Javier Milei took office in December last year. Thus, yields from fixed-term deposits will fall monthly from the current 5% per month to 4.2% for an annual effective rate of 64.8%.
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Thursday, May 2nd 2024 - 19:11 UTC
Argentina: Drop in retail prices expected soon

In line with President Javier Milei's chainsaw politics to curb inflation, Argentine supermarkets expect a drop in retail prices shortly once imported items arrive to compete with local production as agreed upon with the Economy Ministry in March, it was reported in Buenos Aires.
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