IBOV 177,866 ▲ 2.97% IPSA 11,057 ▲ 0.28% IPC MEX 66,496 ▲ 0.59% MERVAL 3,280,224 ▲ 2.43% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,194.27 ▲ 1.29% USD/BRL5.11▼ 0.04% USD/MXN17.50▲ 0.18% USD/CLP923.90▼ 0.41% USD/COP3,242▼ 0.13% USD/PEN3.41▲ 0.44% USD/ARS1,487▼ 0.03% USD/UYU40.22▲ 1.37% USD/PYG6,055▲ 1.45% USD/BOB10.14▲ 4.01% USD/DOP58.61▲ 0.22% USD/CRC448.82▲ 1.41% USD/GTQ7.63▲ 2.31% USD/HNL26.72▲ 0.09% USD/NIO 36.62 — 0.00% USD/VES719.54▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD158.09▲ 0.40% USD/TTD6.75▲ 1.44% EUR/BRL5.82▼ 0.79% BRENT 79.30 ▲ 4.33% WTI 74.55 ▲ 4.40% IRON ORE 161.91 — — COPPER 6.21 ▼ 0.34% GOLD 4,068 ▼ 0.88% SILVER 58.60 ▼ 2.03% SOY 1,197 — 0.00% CORN 467.75 ▲ 6.79% WHEAT 644.50 ▲ 1.98% COFFEE 318.60 ▼ 10.74% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 6,100 ▼ 3.31% BEEF 235.20 ▼ 0.02% CATTLE 354.60 ▼ 0.44% LITHIUM 72.32 ▼ 0.69% PETR4 39.65 ▲ 1.12% VALE3 74.18 ▲ 1.41% ITUB4 44.30 ▲ 4.02% BBDC4 18.86 ▲ 4.78% ABEV3 15.82 ▲ 0.64% BBAS3 20.58 ▲ 2.90% B3SA3 15.42 ▲ 4.26% WEGE3 46.51 ▲ 1.68% PRIO3 55.45 ▼ 0.29% SUZB3 41.55 ▲ 1.27% RENT3 41.10 ▲ 4.31% AZZA3 19.10 ▲ 3.47% CSAN3 4.07 ▲ 5.44% RAIZ4 0.35 ▼ 5.41% PCAR3 2.73 ▼ 1.09% GMAT3 3.97 ▲ 1.02% PSSA3 54.97 ▲ 3.04% CVCB3 1.25 — 0.00% POSI3 3.97 ▲ 3.12% SLCE3 14.02 ▲ 1.67% NATU3 8.68 ▲ 2.60% BRKM5 6.63 ▲ 4.25% RANI3 8.01 ▲ 1.91% CSNA3 5.18 ▲ 7.92% CMIN3 5.23 ▲ 8.28% USIM5 8.45 ▲ 1.20% GGBR4 23.01 ▲ 2.36% ENEV3 27.55 ▲ 5.15% CPFE3 47.87 ▲ 3.41% CMIG4 11.38 ▲ 2.71% EQTL3 40.91 ▲ 3.54% LREN3 14.62 ▲ 3.32% VIVT3 35.75 ▲ 3.62% RAIL3 14.36 ▲ 4.44% KLABIN 17.54 ▲ 0.80% RAIA DROGASIL 18.77 ▲ 3.53% RDOR3 36.02 ▲ 2.48% HAPV3 10.60 ▲ 5.26% FLRY3 16.42 ▲ 4.25% SMTO3 16.37 ▲ 1.99% UGPA3 30.71 ▲ 2.03% VBBR3 33.00 ▲ 2.80% BBSE3 40.35 ▲ 2.72% BPAC11 58.73 ▲ 5.48% CURY3 34.21 ▲ 4.62% AERI3 2.09 ▲ 1.46% VIVARA 23.53 ▲ 4.21% COMPASS 25.50 ▲ 3.32% VAMOS 3.06 ▲ 3.38% SANB11 27.62 ▲ 5.22% ASAI3 8.87 ▲ 4.85% SBSP3 31.11 ▲ 3.70% WALMEX 49.31 ▲ 0.59% GMEXICO 198.62 ▲ 1.68% FEMSA 223.20 ▲ 0.37% CEMEX 21.82 ▲ 0.51% GFNORTE 186.51 ▲ 0.63% BIMBO 56.06 ▲ 0.23% TELEVISA 9.74 ▲ 2.63% AMX 22.70 ▲ 0.27% GAP 412.01 ▼ 0.41% ASUR 285.12 ▲ 0.53% OMA 235.73 ▼ 0.95% KOF 182.08 ▲ 0.65% GRUMA 282.99 ▲ 0.14% KIMBER 38.13 ▼ 0.81% SQM-B 67,750 ▼ 1.95% COPEC 6,139 ▲ 1.98% BSANTANDER 79.00 ▲ 1.94% FALABELLA 5,905 ▲ 0.92% ENELAM 85.40 ▲ 1.47% CENCOSUD 2,045 ▼ 0.55% CMPC 1,109 ▲ 1.32% BANCO CHILE 188.88 ▲ 1.01% LATAM AIR 26.26 ▼ 0.53% YPF 74,450 ▼ 1.75% GGAL 8,350 ▲ 5.96% PAMPA 5,185 ▼ 0.38% TXAR 671.00 ▲ 0.98% ALUAR 978.00 ▲ 0.98% TGS 9,610 ▲ 3.22% CEPU 2,405 ▲ 3.89% MIRGOR 17,375 ▲ 1.02% COME 45.90 ▲ 1.06% LOMA NEGRA 3,583 ▲ 2.43% BYMA 314.00 ▲ 1.37% TELECOM ARG 4,248 ▲ 3.09% ECOPETROL 15.59 ▲ 1.27% BANCOLOMBIA 82.95 ▲ 2.50% GRUPO AVAL 5.08 ▲ 1.20% CREDICORP 400.81 ▲ 2.27% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.00 ▲ 1.52% MERCADOLIBRE 1,852 ▲ 2.46% NUBANK 13.76 ▲ 0.66% XP 16.92 ▲ 3.11% PAGSEGURO 9.25 ▲ 2.78% STONE 11.21 ▲ 2.28% GLOBANT 29.96 ▼ 4.25% TECNOGLASS 43.90 ▲ 1.76% GAP AIRPORT 235.64 ▲ 0.50% ASUR 285.12 ▲ 0.53% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.04 ▲ 0.77% FEMSA ADR 127.70 ▲ 0.55% CEMEX ADR 12.48 ▲ 0.89% PETROBRAS ADR 17.32 ▲ 1.70% VALE ADR 14.46 ▲ 1.69% ITAU ADR 8.62 ▲ 4.11% SANTANDER BR 5.39 ▲ 4.86% AMBEV ADR 3.07 ▲ 0.99% CSN 1.01 ▲ 5.79% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.45 ▼ 1.03% BTC 62,763 ▼ 1.56% ETH 1,783 ▼ 1.25% SOL 76.24 ▼ 0.82% XRP 1.08 ▼ 0.85% BNB 568.50 ▼ 0.95% ADA 0.16 ▼ 1.33% DOGE 0.07 ▼ 0.54% AVAX 6.51 ▲ 1.69% LINK 7.94 ▼ 0.66% DOT 0.83 ▼ 1.21% LTC 43.65 ▼ 0.73% BCH 236.79 ▼ 1.32% TRX 0.33 ▼ 0.26% XLM 0.18 ▼ 1.49% HBAR 0.07 ▼ 0.17% NEAR 1.88 ▼ 0.72% ATOM 1.54 ▼ 1.28% AAVE 94.66 ▼ 2.48% SELIC 14.25% EMBRAER 84.60 ▲ 0.88% EMBRAER ADR 66.01 ▲ 0.72% JBS 11.91 ▲ 1.53% JBS BDR 60.78 ▲ 1.22% MBRF3 15.55 ▲ 0.91% MBRFY 2.97 ▼ 1.00% INTER 5.82 ▲ 1.93% EGX 52,256 ▲ 0.44% USD/ZAR16.37▲ 0.29% USD/NGN 1,376 — 0.00% NIKKEI 66,948 ▼ 2.35% CSI300 4,717 ▼ 1.34% HSI 24,149 ▼ 0.11% NIFTY 24,146 ▼ 0.25% KOSPI 6,881 ▼ 7.96% JCI 5,947 ▲ 0.37% USD/JPY161.96▲ 0.15% 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SILVER 58.60 ▼ 2.03% SOY 1,197 — 0.00% CORN 467.75 ▲ 6.79% WHEAT 644.50 ▲ 1.98% COFFEE 318.60 ▼ 10.74% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 6,100 ▼ 3.31% BEEF 235.20 ▼ 0.02% CATTLE 354.60 ▼ 0.44% LITHIUM 72.32 ▼ 0.69% PETR4 39.65 ▲ 1.12% VALE3 74.18 ▲ 1.41% ITUB4 44.30 ▲ 4.02% BBDC4 18.86 ▲ 4.78% ABEV3 15.82 ▲ 0.64% BBAS3 20.58 ▲ 2.90% B3SA3 15.42 ▲ 4.26% WEGE3 46.51 ▲ 1.68% PRIO3 55.45 ▼ 0.29% SUZB3 41.55 ▲ 1.27% RENT3 41.10 ▲ 4.31% AZZA3 19.10 ▲ 3.47% CSAN3 4.07 ▲ 5.44% RAIZ4 0.35 ▼ 5.41% PCAR3 2.73 ▼ 1.09% GMAT3 3.97 ▲ 1.02% PSSA3 54.97 ▲ 3.04% CVCB3 1.25 — 0.00% POSI3 3.97 ▲ 3.12% SLCE3 14.02 ▲ 1.67% NATU3 8.68 ▲ 2.60% BRKM5 6.63 ▲ 4.25% RANI3 8.01 ▲ 1.91% CSNA3 5.18 ▲ 7.92% CMIN3 5.23 ▲ 8.28% USIM5 8.45 ▲ 1.20% GGBR4 23.01 ▲ 2.36% ENEV3 27.55 ▲ 5.15% CPFE3 47.87 ▲ 3.41% CMIG4 11.38 ▲ 2.71% EQTL3 40.91 ▲ 3.54% LREN3 14.62 ▲ 3.32% VIVT3 35.75 ▲ 3.62% RAIL3 14.36 ▲ 4.44% KLABIN 17.54 ▲ 0.80% RAIA DROGASIL 18.77 ▲ 3.53% RDOR3 36.02 ▲ 2.48% HAPV3 10.60 ▲ 5.26% FLRY3 16.42 ▲ 4.25% SMTO3 16.37 ▲ 1.99% UGPA3 30.71 ▲ 2.03% VBBR3 33.00 ▲ 2.80% BBSE3 40.35 ▲ 2.72% BPAC11 58.73 ▲ 5.48% CURY3 34.21 ▲ 4.62% AERI3 2.09 ▲ 1.46% VIVARA 23.53 ▲ 4.21% COMPASS 25.50 ▲ 3.32% VAMOS 3.06 ▲ 3.38% SANB11 27.62 ▲ 5.22% ASAI3 8.87 ▲ 4.85% SBSP3 31.11 ▲ 3.70% WALMEX 49.31 ▲ 0.59% GMEXICO 198.62 ▲ 1.68% FEMSA 223.20 ▲ 0.37% CEMEX 21.82 ▲ 0.51% GFNORTE 186.51 ▲ 0.63% BIMBO 56.06 ▲ 0.23% TELEVISA 9.74 ▲ 2.63% AMX 22.70 ▲ 0.27% GAP 412.01 ▼ 0.41% ASUR 285.12 ▲ 0.53% OMA 235.73 ▼ 0.95% KOF 182.08 ▲ 0.65% GRUMA 282.99 ▲ 0.14% KIMBER 38.13 ▼ 0.81% SQM-B 67,750 ▼ 1.95% COPEC 6,139 ▲ 1.98% BSANTANDER 79.00 ▲ 1.94% FALABELLA 5,905 ▲ 0.92% ENELAM 85.40 ▲ 1.47% CENCOSUD 2,045 ▼ 0.55% CMPC 1,109 ▲ 1.32% BANCO CHILE 188.88 ▲ 1.01% LATAM AIR 26.26 ▼ 0.53% YPF 74,450 ▼ 1.75% GGAL 8,350 ▲ 5.96% PAMPA 5,185 ▼ 0.38% TXAR 671.00 ▲ 0.98% ALUAR 978.00 ▲ 0.98% TGS 9,610 ▲ 3.22% CEPU 2,405 ▲ 3.89% MIRGOR 17,375 ▲ 1.02% COME 45.90 ▲ 1.06% LOMA NEGRA 3,583 ▲ 2.43% BYMA 314.00 ▲ 1.37% TELECOM ARG 4,248 ▲ 3.09% ECOPETROL 15.59 ▲ 1.27% BANCOLOMBIA 82.95 ▲ 2.50% GRUPO AVAL 5.08 ▲ 1.20% CREDICORP 400.81 ▲ 2.27% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.00 ▲ 1.52% MERCADOLIBRE 1,852 ▲ 2.46% NUBANK 13.76 ▲ 0.66% XP 16.92 ▲ 3.11% PAGSEGURO 9.25 ▲ 2.78% STONE 11.21 ▲ 2.28% GLOBANT 29.96 ▼ 4.25% TECNOGLASS 43.90 ▲ 1.76% GAP AIRPORT 235.64 ▲ 0.50% ASUR 285.12 ▲ 0.53% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.04 ▲ 0.77% FEMSA ADR 127.70 ▲ 0.55% CEMEX ADR 12.48 ▲ 0.89% PETROBRAS ADR 17.32 ▲ 1.70% VALE ADR 14.46 ▲ 1.69% ITAU ADR 8.62 ▲ 4.11% SANTANDER BR 5.39 ▲ 4.86% AMBEV ADR 3.07 ▲ 0.99% CSN 1.01 ▲ 5.79% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.45 ▼ 1.03% BTC 62,763 ▼ 1.56% ETH 1,783 ▼ 1.25% SOL 76.24 ▼ 0.82% XRP 1.08 ▼ 0.85% BNB 568.50 ▼ 0.95% ADA 0.16 ▼ 1.33% DOGE 0.07 ▼ 0.54% AVAX 6.51 ▲ 1.69% LINK 7.94 ▼ 0.66% DOT 0.83 ▼ 1.21% LTC 43.65 ▼ 0.73% BCH 236.79 ▼ 1.32% TRX 0.33 ▼ 0.26% XLM 0.18 ▼ 1.49% HBAR 0.07 ▼ 0.17% NEAR 1.88 ▼ 0.72% ATOM 1.54 ▼ 1.28% AAVE 94.66 ▼ 2.48% 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Chile Politics - Brazil

Chile: President tries to rekindle government while his popularity falls

By · May 11, 2022 · 6 min read

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RIO DE JANEIRO, BRAZIL – Chilean President Gabriel Boric is trying to relaunch a government that has lost popularity less than two months after making global headlines for becoming the country’s youngest president and a possible symbol of a revival of the left in South America.

Now that opinion polls show Boric has lost support since taking office, the 36-year-old president has declared the end of the transition period and called for ministers to act with a “sense of urgency” to address the demands of Chileans.

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“There has been a sort of relaunch of his narrative,” said Eugenio Tironi, a Chilean sociologist. “There is a change of tone, a change of role, and you see a much more active government.”

As a student leader, Boric frequently led protests against inequality rocking a country once seen as a model of political stability in the region. As a candidate, he vowed a sea change in the political landscape. Now some of the people who voted for him are frustrated that change seems slow (Photo internet reproduction)
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Boric said last week that he was considering allowing the army to assist in policing activities in the south of the country, which has been plagued by violence. Dozens of truckers have blocked roads to demand that measures be taken to guarantee their safety in the La Araucanía and Biobío regions, some 600 kilometers (360 miles) from the capital Santiago.

Boric’s apparent willingness to appeal to the military for public security assistance, something he has resisted in the past, has come after acknowledging that his nearly two months in power have not gone exactly as he had hoped. after reaching the presidency with 56% support in the second electoral round in December.

“There have been difficulties and there have been mistakes,” Boric told local newspaper La Tercera in an interview published on May 1. “It is important to assume your own responsibilities.”

Opinion polls show that Boric’s brilliance is quickly dimming among Chileans.

His approval rating fell to almost 24% in the second half of April, a drop of nearly 23 points since he took office, according to a Pulso Ciudadano poll published on May 1. The poll was based on 1,043 online questionnaires and had a margin of error of 3 percentage points. Another pollster, Cadem, reported Boric’s approval rating at 36%, a 14-point drop since he was sworn in. That poll was based on 703 telephone interviews with a margin of error of 3.7 percentage points.

With his recent measures, Boric “what he is doing is taking note that the honeymoon was a little more abrupt than expected and it is no use appealing to youth and inexperience to justify political errors,” said Cristóbal Bellolio, professor of political science at the Adolfo Ibáñez University in Santiago.

Although shorter honeymoons for newly sworn-in leaders have become a global trend given heightened skepticism towards those in power, it appears that Boric has particularly tested the patience of Chileans by taking too long to detail his government plans, added Bellolio.

“At the beginning, this idea that we are going to take some time to diagnose the situation and then we are going to start acting was abused,” commented the academic, “but there is action despite not having a complete diagnosis.”

Analysts largely agree that Boric’s government suffers from some self-inflicted wounds due to a cabinet full of new faces. Several of these missteps involve the Minister of the Interior, Izkia Siches (Photo internet reproduction)

As a student leader, Boric frequently led protests against inequality rocking a country once seen as a model of political stability in the region. As a candidate, he vowed a sea change in the political landscape. Now some of the people who voted for him are frustrated that change seems slow.

“It could also be an effect that the expectations (created) were very high and also the expectations of how quickly things were going to happen,” said Cristián Cáceres, a 54-year-old telecommunications engineer. “People had expectations that were definitely unrealistic.”

For now at least, Boric’s talk of shaking up the status quo has yet to bear fruit.

“He hasn’t implemented anything new,” said Cristóbal Huneeus, director of data science at Unholster, a software company that tracks lawmakers’ work. “He spoke of transformative reforms, but we do not see the reforms.”

For Raúl Ulloa, a 69-year-old eye doctor from Santiago, Boric’s drop in approval is not much of a mystery. “He has no plan” and now he should “not be so extreme and turn more to the center” if he hopes to maintain support, says Ulloa.

Analysts largely agree that Boric’s government suffers from some self-inflicted wounds due to a cabinet full of new faces. Several of these missteps involve the Minister of the Interior, Izkia Siches. In March, she was forced to abruptly end a visit to the La Araucanía region, a center of conflict with indigenous groups demanding the restitution of their land, after hearing e gunshots near his caravan. In April, Siches apologized after wrongly informing lawmakers that a plane carrying Venezuelan immigrants expelled during the previous government had returned to Chile with all passengers on board.

“It is a team that does not have much political experience in the executive. They got there because they hadn’t been there before,” said Claudia Heiss, director of political science at the University of Chile. “They are learning how government is managed, that has led them to make some mistakes.”

That has weighed heavily on some Chileans. Among them is Patricio Soto, 40, who says that Boric’s government “perhaps had the best intentions, but the lack of experience for important positions” has caused problems in his government.

At the same time, however, Boric grapples with some issues that would have presented a challenge to anyone in his position.

“The economic situation is super relevant, and anyone who was in power would be in trouble now,” Heiss said. “We have an inflation that had not been seen in Chile at least since the return of democracy and we are still in the midst of economic crisis due to the pandemic.

But the Chileans are not only upset with Boric. They are increasingly skeptical of the institution that is rewriting the country’s constitution (Photo internet reproduction)

Chile’s annual inflation rate reached 10.5% in April, breaking the double-digit mark for the first time in 28 years and surpassing the 7.2% increase recorded in 2021.

Amid ongoing economic difficulties, the Chilean government last week lowered its growth expectations for the year from 3.5% to 1.5%, and raised its inflation forecast for 2022 to 8.9%.

But the Chileans are not only upset with Boric. They are increasingly skeptical of the institution that is rewriting the country’s constitution.

In 2020, almost eight out of 10 Chileans voted in favor of reforming the Constitution, an overwhelming majority that demonstrated the desire for change in the country after the student protests. But now that the Constitutional Convention has been put to work, many are expressing doubts, with polls showing more and more people inclined to vote against the unfinished documents in a plebiscite scheduled for September.

Even some of the advocates of the reform express skepticism.

“I feel that as a society we need to change the Constitution,” said Daniela Arévalo, a 25-year-old architecture student. But “now I am distrustful of how the constituent process is being carried out.”

Boric has been a strong defender of reforming the Constitution and it is considered that the future of his government is inexorably linked to what happens in that vote, since both are part of a historical process in which Chileans have demanded change. .

“If the government wins, it can breathe easy,” Bellolio said. “If it loses it will be a political earthquake.”

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