Bloomberg Línea — El Salvador’s President Nayib Bukele claimed the Joe Biden administration supports the gangs operating in the Central American country and their “civil liberties”. Bukele made the accusation in a tweet, in response to a post by U.S. State Department spokesperson Ned Price, who had stated that “the U.S. government continues to support El Salvador in its efforts to reduce gang proliferation. We urge El Salvador to protect its citizens and, at the same time, protect civil liberties, including freedom of the press”.
Price was referring to Bukele’s imposition of the so-called Law of Exception to combat a recent crime wave among gangs, and which includes mass arrests, with some 3,000 alleged gang members rounded up and imprisoned. Bukele said that El Salvador did receive support from the U.S. in its combat of gangs, but that it was during the Trump administration.
Peru has lost some of its allure as a destination for major mining investments. The Fraser Institute published its annual survey on Tuesday, and which ranks the South American country in 42nd place, down from 24th place in 2020, out of a total of 84 positions, which includes cities and countries, ranked for their attractiveness for mining investment.
All of Latin America’s stock markets closed with losses Tuesday, with Peru’s S&P BVL/Perú (SPBLPGPT) posting the sharpest decline, of 1.34%, while Brazil’s Ibovespa (IBOV) fell 0.69% and Mexico’s S&P BMV/IPC (MEXBOL) dropped 1.02%.
Following is a roundup of Tuesday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.
Argentina:
- The president of state energy company YPF (YPF), Pablo González, said Tuesday that Argentina “has the potential to produce more gas, but it has a transportation problem”, but said he was confident that the oil company will guarantee self-supply by the end of 2023.
- The sharp rise in the cost of living and high inflationary expectations for this year have prompted changes in the salary demands of the most influential unions in the country.
Brazil:
Chile:
- Chile’s government will submit a bill to Congress that would allow limited early withdrawal of pension funds for specific purposes, such as payment of utility debts or alimony, according to Finance Minister Mario Marcel.
Colombia:
- The government has pledged to bring price rises under control by May, but which is unlikely to alleviate the pressure on Colombians’ pockets amid the spiraling inflation.
Ecuador:
- President Guillermo Lasso has denied that there was a pact with supporters of former president Rafael Correa following the release from prison of former vice president Jorge Glas, who had been sentenced to 14 years in prison for corruption.
El Salvador:
- El Salvador’s President Nayib Bukele claimed Joe Biden’s administration supports the gangs operating in the Central American country and their “civil liberties”. Bukele made the accusation in a tweet, in response to a post by U.S. State Department spokesperson Ned Price, who stated that “the U.S. government continues to support El Salvador in its efforts to reduce gang proliferation. We urge El Salvador to protect its citizens and, at the same time, protect civil liberties, including freedom of the press”. Price was referring to Bukele’s imposition of the so-called Law of Exception to combat a recent crime wave among gangs, and which includes mass arrests, with some 3,000 alleged gang members rounded up and imprisoned. Bukele said that El Salvador did receive support from the U.S. in its combat of gangs, but that it was during the Trump administration.
Mexico:
- Mexican truckers blocked a key Texas border crossing for a second day on Tuesday to protest Governor Greg Abbott’s increased cargo inspection measures, raising fears of disruption to the delivery of everything from avocados to auto parts.
Peru:
- Peru has lost some of its allure as a destination for major mining investments. The Fraser Institute published its annual survey on Tuesday, and which ranks the South American country in 42nd place, down from 24th place in 2020, out of a total of 84 positions, which includes cities and countries, ranked for their attractiveness for mining investment.
Uruguay:
- The Uruguayan government has warned in parliament of the “artificial” competitiveness between the country’s freight transport sector and that of Argentina. The neighboring country’s truckers collect cash in dollars in Uruguay and exchange that money in Argentina at the ‘blue’ rate, enabling to them to operate at half the price of their Uruguayan counterparts.
