Bloomberg Línea — Chilean voters are leaning toward rejecting the new Constitution, which they will be obliged to vote on in the September plebiscite, according to two polls published on Sunday, as the Constitutional Convention, entrusted with the drafting the document, enters the final stage of its work. Mexico’s government has temporarily eliminated import duty on 26 products, mostly foodstuffs, in a bid to combat the highest inflation in decades
On the stock markets, Mexico’s S&P BMV/IPC (MEXBOL) advanced almost 2% and led the region’s gains, with Brazil’s Ibovespa (IBOV) also closing higher, buoyed by the rise in oil prices, with Petrobras (PETR3; PETR4) and mining company Vale (VALE3) shares gaining ground.
Following is a roundup of Monday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.
Argentina:
- Argentina’s government has proposed electric power and water price increases, part of its strategy to comply with the fiscal goal agreed with the International Monetary Fund, and which will be applied from June but not be levied until July.
Bolivia:
- Chilean low-cost airline Jet Smart is reportedly in the process of procuring the necessary certification to begin operations in Bolivia this year, according to local media reports, while the airline told Bloomberg Línea that its landing date in the country has yet to be defined.
Brazil:
- With the end of the lock-up on Nubank (NU) shares on Tuesday May 17, CEO David Vélez said in a meeting with investors that he was “happy to announce” that the majority of the fintech’s shareholders had reinforced their long-term investor position. “Most shareholders do not intend to sell the shares with the end of the lock-up, showing that Nubank is a long-term opportunity,” he said.
Chile:
- Chilean voters are leaning toward rejecting the new Constitution, which they will be obliged to vote on in the September plebiscite, according to two polls published on Sunday, as the constitutional convention, the body in charge of drafting the document enters the the final stage of its work.
Colombia:
- The Colombian economy grew 8.5% in the first quarter of the year, a rebound of 7.6 percentage points compared to the same period of 2021, statistics bureau DANE reported.
Ecuador:
- Enchufe.tv has become the most watched Spanish-language sketch channel in the world, with nearly 26 million subscribers to its YouTube channel and 56 million followers on all its social networks. The channel’s success has been attributed to what has been described as experiential humor, the enjoyment of “laughing at oneself”, and which allows viewers to identify with its stories anywhere on the planet.
Mexico:
- The Mexican government has temporarily eliminated import duty on 26 products, mostly foodstuffs, in a bid to combat the highest inflation in decades, to be applied to basic foods such as corn oil, rice, pork, beef, chicken, beans, corn and wheat flour, eggs, milk, lemon, potatoes and sardines, as well as soap.
Panama:
- A general strike that has paralyzed the Atlantic coast city of Colón has entered its second week, affecting commercial activity in the city’s free-trade zone, the second largest in the Americas.
Uruguay:
- Uruguay’s government has delayed expectations regarding the timeframe for negotiations with China toward a free trade agreement, with the delivery of a feasibility study overdue and such a deal viewed in an unfavorable light by neighbors Argentina and Brazil.
Venezuela:
- The Venezuelan opposition coalition is preparing for elections to select a leader in primaries scheduled for 2023, with the aim of choosing a unifying candidate for the presidential elections.
