IBOV 176,010.90 ▼ 0.36% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,291,246 ▲ 1.92% COLCAP 2,292.03 ▼ 0.29% BVL PERÚ 57,174.37 — — USD/BRL5.08▲ 0.06% USD/MXN17.40▲ 0.05% USD/CLP925.20▼ 0.09% USD/COP3,220▼ 0.49% USD/PEN3.39▲ 0.12% USD/ARS1,475▲ 0.32% USD/UYU40.15▲ 1.04% USD/PYG6,039▲ 1.28% USD/BOB10.65▲ 5.99% USD/DOP58.36▲ 0.10% USD/CRC447.49▲ 0.88% USD/GTQ7.62▲ 2.09% USD/HNL26.73▼ 0.01% USD/NIO36.62▲ 0.34% USD/VES725.63▲ 0.11% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.48▼ 0.01% USD/TTD6.76▲ 1.32% EUR/BRL5.82▼ 0.61% BRENT 84.75 ▼ 0.24% WTI 79.60 — 0.00% IRON ORE 161.91 — — COPPER 6.40 ▲ 1.71% GOLD 4,039 ▼ 0.12% SILVER 57.74 ▲ 1.09% SOY 1,199 ▼ 0.25% CORN 468.50 ▲ 4.69% WHEAT 673.25 ▼ 0.63% COFFEE 324.50 ▼ 3.77% SUGAR 14.86 ▼ 0.13% ORANGE JUICE 140.45 ▲ 0.14% COTTON 82.13 ▲ 3.18% COCOA 5,917 ▲ 4.54% BEEF 230.13 ▼ 0.56% CATTLE 344.38 ▼ 1.27% LITHIUM 71.06 ▼ 0.73% PETR4 40.59 ▼ 0.17% VALE3 74.51 ▲ 0.68% ITUB4 43.14 ▼ 1.12% BBDC4 18.60 ▼ 0.16% ABEV3 15.57 ▼ 1.52% BBAS3 20.55 ▼ 0.19% B3SA3 15.69 ▲ 2.35% WEGE3 44.26 ▲ 0.14% PRIO3 57.50 ▼ 0.12% SUZB3 41.48 ▲ 0.90% RENT3 40.35 ▼ 0.47% AZZA3 18.66 ▼ 1.01% CSAN3 3.93 ▲ 1.03% RAIZ4 0.29 ▼ 6.45% PCAR3 2.62 ▲ 6.94% GMAT3 3.98 ▲ 0.51% PSSA3 55.22 ▲ 1.71% CVCB3 1.34 ▼ 2.90% POSI3 3.95 ▼ 1.00% SLCE3 13.50 ▼ 2.24% NATU3 8.67 ▲ 1.40% BRKM5 6.41 ▼ 6.15% RANI3 7.98 ▼ 0.37% CSNA3 5.24 ▲ 0.77% CMIN3 5.24 ▲ 2.75% USIM5 8.20 ▼ 0.36% GGBR4 24.20 ▲ 3.77% ENEV3 26.95 ▼ 0.81% CPFE3 46.83 ▼ 0.78% CMIG4 11.15 ▼ 0.45% EQTL3 40.33 ▼ 1.51% LREN3 14.10 ▼ 1.33% VIVT3 35.47 ▼ 0.14% RAIL3 14.07 ▼ 0.42% KLABIN 17.39 ▲ 0.40% RAIA DROGASIL 18.67 ▲ 0.38% RDOR3 36.01 ▼ 0.11% HAPV3 10.99 ▼ 1.79% FLRY3 16.51 ▲ 0.61% SMTO3 15.53 ▼ 3.66% UGPA3 31.10 ▲ 3.29% VBBR3 33.75 ▲ 1.35% BBSE3 40.71 ▲ 0.79% BPAC11 57.04 ▼ 1.57% CURY3 32.73 ▼ 2.56% AERI3 2.02 ▼ 2.42% VIVARA 23.52 ▲ 0.38% COMPASS 25.11 ▼ 0.36% VAMOS 3.12 ▼ 0.95% SANB11 27.00 ▼ 1.24% ASAI3 8.66 — 0.00% SBSP3 29.98 ▼ 1.19% WALMEX 49.61 ▲ 0.69% GMEXICO 200.02 ▲ 0.23% FEMSA 223.27 ▼ 2.64% CEMEX 22.64 ▲ 1.98% GFNORTE 183.98 ▼ 1.19% BIMBO 57.50 ▲ 2.02% TELEVISA 9.60 ▲ 1.16% AMX 22.80 ▼ 0.22% GAP 398.24 ▲ 0.75% ASUR 283.46 ▲ 2.85% OMA 234.61 ▼ 0.17% KOF 177.25 ▼ 1.47% GRUMA 280.76 ▲ 0.49% KIMBER 38.73 ▲ 0.75% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 78,550 ▲ 1.00% GGAL 8,205 ▲ 3.73% PAMPA 5,240 ▲ 0.19% TXAR 668.00 ▲ 0.91% ALUAR 959.50 ▲ 1.11% TGS 9,750 ▲ 0.41% CEPU 2,344 ▲ 0.73% MIRGOR 16,975 ▲ 1.34% COME 45.63 ▼ 0.26% LOMA NEGRA 3,615 ▲ 2.34% BYMA 304.25 ▲ 1.08% TELECOM ARG 4,315 ▼ 0.40% ECOPETROL 15.98 ▼ 1.11% BANCOLOMBIA 81.55 ▼ 0.67% GRUPO AVAL 5.03 ▲ 1.62% CREDICORP 398.20 ▲ 1.52% SOUTHERN COPPER 181.54 ▼ 0.46% BUENAVENTURA 30.71 ▼ 1.03% MERCADOLIBRE 1,843 ▼ 1.64% NUBANK 13.88 ▼ 0.79% XP 16.87 — 0.00% PAGSEGURO 9.21 ▼ 0.75% STONE 11.28 ▼ 0.18% GLOBANT 31.98 ▲ 3.43% TECNOGLASS 45.67 ▲ 3.26% GAP AIRPORT 228.15 ▲ 0.97% ASUR 283.46 ▲ 2.85% OMA AIRPORT 107.90 ▲ 0.24% AMX ADR 26.11 ▼ 0.27% FEMSA ADR 128.77 ▼ 3.30% CEMEX ADR 13.07 ▲ 2.11% PETROBRAS ADR 17.86 ▼ 0.33% VALE ADR 14.67 ▲ 0.55% ITAU ADR 8.45 ▼ 1.17% SANTANDER BR 5.35 ▼ 0.74% AMBEV ADR 3.03 ▼ 1.94% CSN 1.04 ▲ 0.49% GERDAU 4.80 ▲ 4.12% LATAM ADR 54.87 ▲ 2.54% BTC 64,839 ▲ 0.20% ETH 1,924 ▲ 0.38% SOL 77.36 ▲ 0.12% XRP 1.11 ▲ 0.16% BNB 582.80 ▲ 0.46% ADA 0.16 ▼ 0.67% DOGE 0.07 — 0.00% AVAX 6.70 ▲ 0.06% LINK 8.52 ▼ 0.21% DOT 0.84 ▼ 0.64% LTC 45.25 ▲ 0.28% BCH 224.00 ▲ 0.38% TRX 0.32 ▼ 0.10% XLM 0.19 ▼ 0.06% HBAR 0.07 ▼ 0.66% NEAR 2.05 ▼ 0.63% ATOM 1.56 ▲ 0.29% AAVE 96.09 ▲ 0.27% SELIC 14.25% EMBRAER 82.35 ▼ 0.17% EMBRAER ADR 64.90 ▼ 0.02% JBS 12.10 ▲ 2.28% JBS BDR 61.43 ▲ 2.81% MBRF3 15.40 ▼ 4.29% MBRFY 2.87 ▼ 8.60% INTER 5.62 ▼ 1.40% EGX 52,558 ▲ 0.50% USD/ZAR16.33— 0.00% USD/NGN 1,379 — 0.00% NIKKEI 66,719 ▼ 2.96% CSI300 4,724 ▼ 1.30% HSI 25,204 ▲ 2.12% NIFTY 24,146 ▲ 0.28% KOSPI 6,822 ▼ 6.34% JCI 6,064 ▲ 0.37% USD/JPY162.16▼ 0.02% USD/CNY6.77▼ 0.03% DAX 25,000 ▼ 0.59% CAC 8,382 ▲ 0.19% FTSE 10,516 ▼ 0.13% MIB 52,411 ▼ 0.85% IBEX 19,276 ▼ 0.42% STOXX 642.71 ▲ 0.10% EUR/USD1.15▲ 0.06% GBP/USD1.35▲ 1.03% SPX 7,572 ▲ 0.38% DJI 52,659 ▲ 0.29% NDX 29,503 ▼ 0.28% RUT 2,976 ▲ 0.39% TSX 35,416 ▲ 0.27% VIX 15.67 ▼ 5.03% USD/CAD1.40▲ 0.05% US10Y 4.5450 ▼ 0.87% IBOV 176,010.90 ▼ 0.36% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,291,246 ▲ 1.92% COLCAP 2,292.03 ▼ 0.29% BVL PERÚ 57,174.37 — — USD/BRL 5.08 ▲ 0.06% USD/MXN 17.40 ▲ 0.05% USD/CLP 925.20 ▼ 0.09% USD/COP 3,220 ▼ 0.49% USD/PEN 3.39 ▲ 0.12% USD/ARS 1,475 ▲ 0.32% USD/UYU 40.15 ▲ 1.04% USD/PYG 6,039 ▲ 1.28% USD/BOB 10.65 ▲ 5.99% USD/DOP 58.36 ▲ 0.10% USD/CRC 447.49 ▲ 0.88% USD/GTQ 7.62 ▲ 2.09% USD/HNL 26.73 ▼ 0.01% USD/NIO 36.62 ▲ 0.34% USD/VES 725.63 ▲ 0.11% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.48 ▲ 0.31% USD/TTD 6.76 ▲ 1.56% EUR/BRL 5.82 ▼ 0.61% BRENT 84.75 ▼ 0.24% WTI 79.60 — 0.00% IRON ORE 161.91 — — COPPER 6.40 ▲ 1.71% GOLD 4,039 ▼ 0.12% SILVER 57.74 ▲ 1.09% SOY 1,199 ▼ 0.25% CORN 468.50 ▲ 4.69% WHEAT 673.25 ▼ 0.63% COFFEE 324.50 ▼ 3.77% SUGAR 14.86 ▼ 0.13% ORANGE JUICE 140.45 ▲ 0.14% COTTON 82.13 ▲ 3.18% COCOA 5,917 ▲ 4.54% BEEF 230.13 ▼ 0.56% CATTLE 344.38 ▼ 1.27% LITHIUM 71.06 ▼ 0.73% PETR4 40.59 ▼ 0.17% VALE3 74.51 ▲ 0.68% ITUB4 43.14 ▼ 1.12% BBDC4 18.60 ▼ 0.16% ABEV3 15.57 ▼ 1.52% BBAS3 20.55 ▼ 0.19% B3SA3 15.69 ▲ 2.35% WEGE3 44.26 ▲ 0.14% PRIO3 57.50 ▼ 0.12% SUZB3 41.48 ▲ 0.90% RENT3 40.35 ▼ 0.47% AZZA3 18.66 ▼ 1.01% CSAN3 3.93 ▲ 1.03% RAIZ4 0.29 ▼ 6.45% PCAR3 2.62 ▲ 6.94% GMAT3 3.98 ▲ 0.51% PSSA3 55.22 ▲ 1.71% CVCB3 1.34 ▼ 2.90% POSI3 3.95 ▼ 1.00% SLCE3 13.50 ▼ 2.24% NATU3 8.67 ▲ 1.40% BRKM5 6.41 ▼ 6.15% RANI3 7.98 ▼ 0.37% CSNA3 5.24 ▲ 0.77% CMIN3 5.24 ▲ 2.75% USIM5 8.20 ▼ 0.36% GGBR4 24.20 ▲ 3.77% ENEV3 26.95 ▼ 0.81% CPFE3 46.83 ▼ 0.78% CMIG4 11.15 ▼ 0.45% EQTL3 40.33 ▼ 1.51% LREN3 14.10 ▼ 1.33% VIVT3 35.47 ▼ 0.14% RAIL3 14.07 ▼ 0.42% KLABIN 17.39 ▲ 0.40% RAIA DROGASIL 18.67 ▲ 0.38% RDOR3 36.01 ▼ 0.11% HAPV3 10.99 ▼ 1.79% FLRY3 16.51 ▲ 0.61% SMTO3 15.53 ▼ 3.66% UGPA3 31.10 ▲ 3.29% VBBR3 33.75 ▲ 1.35% BBSE3 40.71 ▲ 0.79% BPAC11 57.04 ▼ 1.57% CURY3 32.73 ▼ 2.56% AERI3 2.02 ▼ 2.42% VIVARA 23.52 ▲ 0.38% COMPASS 25.11 ▼ 0.36% VAMOS 3.12 ▼ 0.95% SANB11 27.00 ▼ 1.24% ASAI3 8.66 — 0.00% SBSP3 29.98 ▼ 1.19% WALMEX 49.61 ▲ 0.69% GMEXICO 200.02 ▲ 0.23% FEMSA 223.27 ▼ 2.64% CEMEX 22.64 ▲ 1.98% GFNORTE 183.98 ▼ 1.19% BIMBO 57.50 ▲ 2.02% TELEVISA 9.60 ▲ 1.16% AMX 22.80 ▼ 0.22% GAP 398.24 ▲ 0.75% ASUR 283.46 ▲ 2.85% OMA 234.61 ▼ 0.17% KOF 177.25 ▼ 1.47% GRUMA 280.76 ▲ 0.49% KIMBER 38.73 ▲ 0.75% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 78,550 ▲ 1.00% GGAL 8,205 ▲ 3.73% PAMPA 5,240 ▲ 0.19% TXAR 668.00 ▲ 0.91% ALUAR 959.50 ▲ 1.11% TGS 9,750 ▲ 0.41% CEPU 2,344 ▲ 0.73% MIRGOR 16,975 ▲ 1.34% COME 45.63 ▼ 0.26% LOMA NEGRA 3,615 ▲ 2.34% BYMA 304.25 ▲ 1.08% TELECOM ARG 4,315 ▼ 0.40% ECOPETROL 15.98 ▼ 1.11% BANCOLOMBIA 81.55 ▼ 0.67% GRUPO AVAL 5.03 ▲ 1.62% CREDICORP 398.20 ▲ 1.52% SOUTHERN COPPER 181.54 ▼ 0.46% BUENAVENTURA 30.71 ▼ 1.03% MERCADOLIBRE 1,843 ▼ 1.64% NUBANK 13.88 ▼ 0.79% XP 16.87 — 0.00% PAGSEGURO 9.21 ▼ 0.75% STONE 11.28 ▼ 0.18% GLOBANT 31.98 ▲ 3.43% TECNOGLASS 45.67 ▲ 3.26% GAP AIRPORT 228.15 ▲ 0.97% ASUR 283.46 ▲ 2.85% OMA AIRPORT 107.90 ▲ 0.24% AMX ADR 26.11 ▼ 0.27% FEMSA ADR 128.77 ▼ 3.30% CEMEX ADR 13.07 ▲ 2.11% PETROBRAS ADR 17.86 ▼ 0.33% VALE ADR 14.67 ▲ 0.55% ITAU ADR 8.45 ▼ 1.17% SANTANDER BR 5.35 ▼ 0.74% AMBEV ADR 3.03 ▼ 1.94% CSN 1.04 ▲ 0.49% GERDAU 4.80 ▲ 4.12% LATAM ADR 54.87 ▲ 2.54% BTC 64,839 ▲ 0.20% ETH 1,924 ▲ 0.38% SOL 77.36 ▲ 0.12% XRP 1.11 ▲ 0.16% BNB 582.80 ▲ 0.46% ADA 0.16 ▼ 0.67% DOGE 0.07 — 0.00% AVAX 6.70 ▲ 0.06% LINK 8.52 ▼ 0.21% DOT 0.84 ▼ 0.64% LTC 45.25 ▲ 0.28% BCH 224.00 ▲ 0.38% TRX 0.32 ▼ 0.10% XLM 0.19 ▼ 0.06% HBAR 0.07 ▼ 0.66% NEAR 2.05 ▼ 0.63% ATOM 1.56 ▲ 0.29% AAVE 96.09 ▲ 0.27% SELIC 14.25% EMBRAER 82.35 ▼ 0.17% EMBRAER ADR 64.90 ▼ 0.02% JBS 12.10 ▲ 2.28% JBS BDR 61.43 ▲ 2.81% MBRF3 15.40 ▼ 4.29% MBRFY 2.87 ▼ 8.60% INTER 5.62 ▼ 1.40% EGX 52,558 ▲ 0.50% USD/ZAR 16.34 ▲ 0.34% USD/NGN 1,379 — 0.00% NIKKEI 66,719 ▼ 2.96% CSI300 4,724 ▼ 1.30% HSI 25,204 ▲ 2.12% NIFTY 24,146 ▲ 0.28% KOSPI 6,822 ▼ 6.34% JCI 6,064 ▲ 0.37% USD/JPY 162.15 ▲ 0.01% USD/CNY 6.7664 ▲ 0.13% DAX 25,000 ▼ 0.59% CAC 8,382 ▲ 0.19% FTSE 10,516 ▼ 0.13% MIB 52,411 ▼ 0.85% IBEX 19,276 ▼ 0.42% STOXX 642.71 ▲ 0.10% EUR/USD 1.1467 ▼ 0.01% GBP/USD 1.3532 ▼ 0.04% SPX 7,572 ▲ 0.38% DJI 52,659 ▲ 0.29% NDX 29,503 ▼ 0.28% RUT 2,976 ▲ 0.39% TSX 35,416 ▲ 0.27% VIX 15.67 ▼ 5.03% USD/CAD 1.4047 ▲ 0.07% US10Y 4.5450 ▼ 0.87%
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Covid-19 Brazil

Under Media Radar, Uruguay Shows Outstanding Covid-19 Control Efforts

By · June 6, 2020 · 4 min read

Daily Brief

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RIO DE JANEIRO, BRAZIL – Uruguay seldom attracts much global attention. Perhaps best known to a wider audience in Europe for its top-class national soccer team and as the venue for the first World Cup in 1930, Uruguay is not a wealthy country, but one where social differences are not as marked as in the rest of the region. As a result, it was often referred to as the Switzerland of South America.

A better social balance and well-functioning institutions, particularly in the health care sector, may have contributed to the fact that Uruguay was not equally affected by the pandemic wave as other countries in the region. According to figures from Johns Hopkins University, by June 3rd, the country counted only 826 infections and 23 deaths out of a total population of 3.5 million.

Uruguay and Costa Rica: beacons of Latin American virus success. (Photo internet reproduction)
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The death rate per 100,000 inhabitants is thus 0.65. For comparison, the death rate in neighboring Brazil is 12.2, in Chile (the country with the highest average income in the region) it is 4.5, and even in Argentina, which is also conducting a relatively successful battle against the coronavirus, it is 1.1.

While the pandemic has not yet peaked in most of Latin America, Uruguay has been progressively reducing its protection measures since April. The building industry has been working again since April, and last month stores reopened. Schools have also opened, first in the rural areas and later in the cities.

Disciplined citizens

The first coronavirus case was detected in Uruguay on March 13th. The country immediately reacted by taking the same measures as most other countries: borders were closed, flights were suspended, schools and churches were closed, and major events such as soccer competitions and concerts were canceled.

However, no curfew for the population was decreed. President Luis Lacalle Pou, in office since March 1st, rejected it on the grounds that in this case the government would have to be prepared to intervene with harsh sanctions, including prison sentences, against offenders, which he does not consider to be effective.

Instead, he relied on voluntary action and appealed to the citizens’ sense of responsibility to stay home. His strategy was successful. In surveys, over 90 percent of respondents supported the government’s recommendation. Most stores closed voluntarily because customers stopped coming.

Well-prepared healthcare system

Uruguay also benefited from its comparatively good healthcare system and infrastructure. Virtually the whole population in the country has access to drinking water – a requirement for hygiene protection measures – which is by no means the case in other countries in the region. The centre-left governments that ruled the country for fifteen years until last March invested heavily in healthcare. In fact, for ten of those fifteen years, the country was led by a medical specialist, Tabaré Vazquez, a doctor and professor of oncology.

A comprehensive healthcare system was established, incorporating the public and private sectors. Home care is emphasized, and there is a health service throughout the country that addresses emergencies before they have to be referred to a hospital.

Covid-19 patients were thus tested at home and, whenever possible, cared for there too, which reduced the risk of the virus spreading. In addition, very broad testing was performed. Uruguay tested more than three times as much as Argentina and Brazil per 100,000 inhabitants. And this was done with a test developed domestically.

Pay cuts for politicians

Uruguay also took unconventional paths in financing the economic costs of the coronavirus measures. The wages of the President, Ministers, Deputies and senior civil servants have been cut by 20 percent, and the resulting savings will be used to finance a Coronavirus Fund. In addition, Uruguay applied for credit lines with institutional banks in the region (Banco Interamericano de Desarrollo and Corporación Andina de Fomento) at an early stage and was thus not affected by rising interest rates in the volatile financial markets.

Julio Vignolo, the epidemiological advisor to the Uruguayan government, acknowledges that the success in controlling the coronavirus is not only the result of the government’s measures, but also of certain favorable conditions in Uruguay. One of these is the relatively low population density. The approximately 3.5 million inhabitants live in an area four times larger than Switzerland.

The absence of large cities has probably also helped. Other than the capital Montevideo with 1.3 million inhabitants, the population of other cities does not exceed 100,000. However, Vignolo also cautions against excessive presumption based on the successes achieved so far. One has to reassess the situation on a daily basis. The virus is here to stay.

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