The attendance overflowed room 2 of the Alfabeta Cultural Complex in Little holes. The new book on the economic thought of the economist was presented Gabriel Oddone, authored by the journalist Nicholas Battle. It is titled “The Takeoff: how to grow and distribute in Uruguay”. In recent years, Oddone has become a leading economist in the discussion of these issues in the Uruguay. And since he has been mentioned as a possible Minister of Economy in case Yamandú Orsi I reached the Presidency, hand in hand with the Broad Front, is literally in the spotlight. Orsi himself had his place reserved in the front row and was there to listen to the book presentation, which was given by Fernando Filgueira and Isabelle Chaquiriand, with the moderation of Victoria Gadea. Next to Orsi the senator Alejandro “Pacha” Sanchezwho has been appointed coordinator of the Frente Amplio campaign.
The attendance included prominent businessmen, such as Nicholas Jodal, founder of Genexus (software), prominent public figures such as Enrique Iglesias (former president of the IDB), Frente Amplio politicians such as the deputy Cristina Lustemberg, people from the financial environment such as the former president of the Montevideo Stock Exchange, Pablo Montaldoand -of course- economists linked to the Broad Front as the former minister of economy Alvaro Garcia.
Also important representatives of other political parties. Next to the executive director of the Association of Private Banks of Uruguay (ABPU)the economist Barbara Mainzer, The former Minister of Economy, Dr. was comfortably located Ignatius of Posadasreference of the National Party and Uruguayan liberal thought. “And there were others who are far from being left-wing,” added a member of the Seregnista from the beginning, with a particular affinity with Oddone. “This call is not only due to the political interest that Gabriel arouses today; he is a guy who has cultivated very good relationships… a gift for people,” he commented.
“AND Pablo Ferreri and he’s not coming?” a journalist asked caustically while she was adjusting the recorder and the headset for the live contact she had planned during the presentation. “Relax,” answered a FA leader who was attending the presentation. “Look! There he comes arriving” he replied, while the accountant Ferreri – who in the internal affairs became the economic reference for Carolina Cosse- I entered the room, somewhat agitated, at the time the event was about to start. It is not easy to park in Pocitos.
Anxiety
It was a rainy afternoon and people were pushing to get in to the book presentation. The businessman was having a hard time getting a seat with a director of the MPP, the one he has known since he was young, to ask him the obvious question. He finally succeeded. “Is Oddone already confirmed as a future minister? Because Castillo gave him a yellow card…”, he said. “Hey! Are you anxious? Time will tell…”, the leader replied. “What you are telling me was during the Campaign for the internal elections, surely a resource to capture some more votes among the most orthodox Frente members, but – as you will have seen – the move did not work out well, it did not have much effect. Also, I doubt that there will be a direct questioning of Oddone,” he added. “Ah… so it is the expected name,” the businessman asserted in response to the question. The leader laughed and replied: “Let’s not rush, we’re doing great.”
Numbers
Indeed, the polls are giving him a good result. FA It is unquestionable and that is behind the decision of Yamandú Orsi not to participate in debates or presentations in which more than one candidate for the presidency of the coalition parties is present. He is also not giving interviews; he prefers to travel around the country and participate in selected events. One of them was at the ORT Universitywhere all the main presidential candidates were present, to sign a joint declaration against anti-Semitism and discrimination.
During the event, a lawyer who is a regular in the media could not contain his curiosity about political matters and confronted one of the members of Orsi’s communications team. “Shouldn’t I go out in public more?” His interlocutor replied: “And what would you do in my place? The numbers are very strong and the Broad Front is the favorite; there are polls that have already given 45% and some in the next few days will give 46%,” he responded optimistically. “With those numbers the FA is close to the parliamentary majority! Do you think we should take risks in a campaign that is short and difficult?
The lawyer smiled but was left without an immediate response, thinking of the good arguments of Orsi’s campaign. But he tried to reply. “But people are asking him to speak out. Businessmen, but also many other people want to have more concrete definitions; I understand what you say about the situation of favoritism but continuing with this strategy from now until October seems difficult, doesn’t it?” he asked. “We’ll see,” the leader replied, while he stood next to Orsi, who was already leaving the university premises.
The candidate could not avoid the questions of the reporters about Venezuela. “I don’t believe in the results of Ripe”, declared.
Investments
The executive entered a few minutes early to the open meeting of the bank’s investment committee. The office, on a high floor of the World Trade Center The room was illuminated by the clear rays of the evening sun, which came through the window. “Should I lower the blinds a little?” she asked. “No, that’s fine…” they replied. “You seem worried…” she said to one of the committee’s economists, who had come to the meeting earlier. “Well… things are not easy; there has been a lot of movement in the bags.. But… do you know what worries me the most? Since April they have hardly been coming in capitals the country; of course there are exceptions, but they confirm the rule: the scenario has changed a lot, the truth is,” he responded without changing his worried expression.
The executive stared at him, inquiring for something else. The expert continued: “In the world now it is being said that USA will lower the interest rate, which it will surely do because the risk of a recession has increased there… but we must not be confused…”, he added. “In what sense?” she asked again. “That we are now in a world with clearly positive real interest rates, as has not been seen for decades, do you follow me? The central banks They raised rates sharply to lower the inflation, and they succeeded. But that does not mean that we are going back to a scenario of cheap money. Now bonds pay good rates…”
The conversation continued for a few minutes. “And how does it affect here? Uruguay? Because despite the stock market crash, it was pretty quiet here, wasn’t it? The economist leaned across the table and crossed his fingers, as if looking for precision in the answer. “It’s true: Uruguay has investment grade and a well-earned prestige, which clearly differentiates it from the countries in the region; there are no problems there. There was a certain increase in the country risk But the way the debt is being handled is impeccable in every sense,” he added. “So? What is the problem? You seem quite worried,” his interlocutor replied.
“The thing is that the investments have been a key driver for the growth of the economy. Obviously the large projects of UPM and others, but also a lot of real estate investment that has come from Argentina and elsewhere, and of course local investment itself, which is key. But now, with attractive interest rates, even if they fall in the coming months, the willingness to invest, to put capital into the market, is growing. Uruguay It is no longer the same… Also the prices of the agriculture “The prices are going down, especially soybeans, which have been a great driver of agriculture. And – if that were not enough – Argentina is still far from normalizing its situation. There are going to be some very complicated months,” she responded in a flurry of comments that conveyed her concern to her colleague. The rest of the committee members were already arriving and beginning to take their seats. One asked: “Should we leave the blinds up? Does the sun bother you?” “Leave it like that, this warm light is not bad,” replied the executive, who was already opening her notebook to start the meeting.
Source: Ambito
