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The 4 keys to understanding the economic and political agenda of the week

The 4 keys to understanding the economic and political agenda of the week

This Monday afternoon there will be a key meeting between the representatives of Town meeting (AC) in which they will have to define whether the party will continue to be part of the government coalition, or will slam the door, after the scandal over the direct granting of a house to a CA militant by the ex-minister of Housing and Territorial Planning (MVOT), Irene Moreira.

President Luis Lacalle Pou had requested Moreira’s resignation after the MVOT’s no-lottery award of the property was publicly disclosed. The dismissal of the lobbyist’s cabinet seems to have dynamited relations between the main leaders of CA, including her husband, Guido Manini Riosand the other parties of the Multicolor Coalition.

Lacalle Pou’s movement could be taken as a bill pass after what were the tense negotiations he had with the leader and senator of CA, Manini Ríos, in which he had to give in to several requests from the ex-military for CA to commit to provide the necessary votes to approve the social security reform.

Maybe there are other things that they want to charge CA“, said Manini Ríos during the press conference last Friday in which he pressured Lacalle Pou to revise the resignation request. Manini Ríos gave a preamble to what seems to be the end of the coalition: “Maybe the time has come” He responded to the query about whether a rupture would be considered.

The BCU will place 3 titles for 12,500 million pesos this week

He Central Bank of Uruguay (BCU) published the tentative placement schedule for domestic public debt securities in nominal pesos for next week. Between Monday and Friday, tenders will be 12,500 million pesos in three placements issued by the financial institution, which has placed 11,390 million pesos last week.

The placement of titles, key in the government’s debt management, will allow the BCU to know if, after the rating agency Standard & Poor’s (S&P), one of the most important internationally, raised the note of the sovereign debt of Uruguay from BBB to BBB+the appetite of investors for titles in pesos increased or not.

This monday may 8at 2:00 p.m., the first title in pesos for 4,200 million pesos (108.1 million dollars, at current values), with integration that same day and with a term of 35 days. That is, with an expiration date of June 12 of this year. Of that total, 840 million pesos (21.6 million dollars) will be non-competitive placements.

The next day, Wednesday May 10there will be another adjudication, also at 2:00 p.m.: a title will be tendered for 3,300 million pesos, equivalent to about 85 million dollars, with integration that same day and with a term of 91 days (two months); with an expiration date of August 9 of this year. Of this total, 660 million pesos (about 17 million dollars) are considered non-competitive.

Lastly, the friday may 12at the same time, a title will be tendered for 5,000 million pesos (128.7 million dollars) with integration that same day and with a maturity period of 175 days. In other words, it has a maturity date of November 3, 2023. Of this total, 1,000 million pesos (25.7 million dollars) will be considered non-competitive placements.

The INE will present a new Survey of Business Expectations

This Monday, May 8, the Statistics National Institute (INE) will present a new Business Expectations Survey (EEA). The technical report will correspond to the surveys that were carried out on national businessmen during the month of April.

The last EEA had shown that during the month of March the inflationary expectations of businessmen had decreased from 8.5% to 8%, based on the median of their responses. Now, it remains to be seen if this optimistic trend was maintained during April.

In turn, on Tuesday, May 9, it will update the Real Estate Activity Indicators (IAI) of the Rental Market, and on Friday, May 12, it will publish the variation of the Physical Volume Index of the Manufacturing Industry (IVFIM), and a technical report related to the labor market by geographical area of ​​residence (ech). All corresponding to the month of March.

The industrial sector demands solutions to the exchange difference with Argentina

The government will have another week full of claims from the commercial and industrial sectors of the country, which are dismayed because of the exchange difference that exists with Argentinaaffecting employment and local production.

Fernando Pachedirector of the Food Industry Chamber (cialis) and the Chamber of Industries of Uruguay (CIU), expressed his regret for the situation on Twitter, and sent a message to the national government saying: “let’s get this over with, please“, since, according to his words, “we will not have a single industry open“.

the mayor of Leap, Andres Limadoes not cease in his request for action from the government in the face of the dramatic situation of unprecedented unemployment in his department, where it exceeds the 14% due to the contraction of commercial activity at the local level.

This vision is shared by the Commercial and Industrial Center of Saltowho do not see a response from the Executive Power and assure that from the union they will continue insisting on the idea that “each ministry has valuable measures to contribute to the solution of the problems on the border.”

Source: Ambito

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