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▲ 0.02% USD/MXN17.48▲ 0.04% USD/CLP923.90▼ 0.41% USD/COP3,237▼ 0.27% 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/BRL5.84▲ 0.37% BRENT 78.65 ▲ 3.47% WTI 73.96 ▲ 3.57% IRON ORE 161.91 — — COPPER 6.27 ▲ 0.60% GOLD 4,072 ▼ 0.78% SILVER 58.85 ▼ 1.60% SOY 1,198 ▲ 0.13% CORN 466.50 ▲ 6.51% WHEAT 637.50 ▲ 0.87% COFFEE 326.35 ▼ 4.85% SUGAR 14.78 ▼ 0.67% ORANGE JUICE 143.25 ▼ 4.44% COTTON 81.35 ▲ 1.79% COCOA 5,547 ▼ 6.28% BEEF 230.55 ▼ 2.00% 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 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0.78% SILVER 58.85 ▼ 1.60% SOY 1,198 ▲ 0.13% CORN 466.50 ▲ 6.51% WHEAT 637.50 ▲ 0.87% COFFEE 326.35 ▼ 4.85% SUGAR 14.78 ▼ 0.67% ORANGE JUICE 143.25 ▼ 4.44% COTTON 81.35 ▲ 1.79% COCOA 5,547 ▼ 6.28% BEEF 230.55 ▼ 2.00% 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 63,007 ▼ 1.18% ETH 1,781 ▼ 1.37% SOL 76.35 ▼ 0.68% XRP 1.08 ▼ 0.62% BNB 569.59 ▼ 0.76% ADA 0.16 ▼ 1.46% DOGE 0.07 ▼ 0.49% AVAX 6.64 ▲ 3.72% LINK 7.95 ▼ 0.54% DOT 0.84 ▼ 0.85% LTC 43.72 ▼ 0.57% BCH 238.77 ▼ 0.50% TRX 0.33 ▼ 1.17% XLM 0.18 ▼ 1.03% HBAR 0.07 ▼ 0.86% NEAR 1.92 ▲ 1.71% ATOM 1.55 ▼ 1.09% AAVE 96.52 ▼ 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Latin America Politics - Brazil

Ten days before the crucial referendum in Uruguay

By · March 17, 2022 · 4 min read

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RIO DE JANEIRO, BRAZIL – In 10 days, Uruguay will vote whether or not to repeal 135 of the 476 articles of the Law of Urgent Consideration (LUC), the star project of the Executive of the center-right Luis Lacalle Pou, in a referendum that can be considered as a rejection or “endorsement” of his administration and which has a high percentage of undecided voters.

With a wide margin, the commission promoted by the trade union PIT-CNT and the Frente Amplio (FA), a left-wing coalition that governed Uruguay between 2005 and 2020 and today is the main opposition force, surpassed last July the 671,544 signatures required for the referendum to be held on March 27, which divides the waters in the country.

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On one side, with pink ballots, the ‘Yes’ campaign is pushing to leave without effect the portion of articles of the LUC which, according to the left, go against the popular sentiment; on the other side, with light blue ballots, the ‘No’ seeks the defense of a norm which, according to the ruling party, has done nothing but benefit the citizens.

With pink ballots, the 'Yes' campaign is pushing to leave without effect the portion of articles of the LUC which, according to the left, go against the popular sentiment.
With pink ballots, the ‘Yes’ campaign is pushing to leave without effect the portion of articles of the LUC which, according to the left, go against the popular sentiment. (Photo: internet reproduction)
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MID-TERM ELECTIONS?

As political scientist Antonio Cardarello assures, the competition is “very strong”; in an unusual tone in Uruguay, the crossing of positions has led to disqualifications or denunciations of graffiti and posters on both sides.

The fact is that, for Cardarello, the referendum, insofar as it concerns a flagship norm of the Government, can be seen as a mid-term election, a proposition that, he says, the FA made in principle, when it saw the wind in its favor, but reversed later by affirming that, “in reality, it is a referendum against the law and certain articles”.

“The Government, on the other hand, believes that it is favorable for it to talk about a mid-term election because it is supported by the results of the president’s assessment and that is why the president embodies a little bit the defense of the law”, he asserts in allusion to Lacalle, who will defend the “No” in a press conference on March 23.

The ‘Yes’ commission, for its part, will broadcast a 7-minute video on national TV the day before.

For political scientist Alfonso Lessa, comparing the referendum with the Argentine PASO is erroneous because although he believes the referendum hides a political intention to “wear down the Government,” the battle will be defined by the undecided.

“All the polls say the same thing, (the vote) is going to be defined by 25% and the people who do not know (the LUC) is much more than 25%. One out of four Uruguayans will define the election, but without knowing well what it is about,” he states and alludes to the partisan vote.

YES, NO

Both analysts agree, however, that if the ‘No’ vote wins, the Government will receive a “boost”, while if the ‘Yes’ vote wins, that boost will go to the FA, after a hesitant opposition role at the beginning of Lacalle Pou’s term of office (2020-2025).

“If the ‘No’ wins, it would be a reaffirmation of the Government, the reading will be ‘we are on the right path’,” indicates Cardarello, who believes that, on the other hand, a majority for the ‘Yes’ would give the FA a position with “the capacity to negotiate certain directions”.

Lessa stresses that 52% support for the president with two years of pandemic behind him is not minor, but, as it is not what is being voted on, “there are many doubts” about who will win in ten days.

Asked about what will happen if the ‘Yes’ vote wins, the senator of the governing National Party (PN), Carmen Asiaín, points out that the coalition will not ignore the popular pronouncement.

“There is no constitutional or legal impediment for the Government, with the same majorities that supported this law, to vote similar laws again, but there is a public commitment not to go that way,” she argues.

Regarding the ‘No’ vote, FA senator Silvia Nane says that her party will be self-critical and look “forward”.

Nane emphasizes that the repeal would avoid abuses in housing, security, or education policies and says that the law did not have the necessary debate due to the procedure called “of urgent consideration”.

“Changes are not made by proposing omnibus laws to the citizens in a minimum consideration time in Parliament,” he says.

Asiaín, on his side, defends the ‘No’ with the conviction that the contested articles “have not harmed anyone” and believes that the referendum is due to “the disappointment of not having been winners at the polls”, alluding to the electoral defeat of the left in 2019.

While the indecision defines, it remains to be seen if the pink wins over the light blue, a fight that will take place in the Uruguayan ballot boxes on March 27.

With information from EFE

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