IBOV 177,866 ▲ 2.97% IPSA 11,032 ▲ 0.06% IPC MEX 66,433 ▲ 0.49% MERVAL 3,280,224 ▲ 2.43% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,194.27 ▲ 1.29% USD/BRL5.11▼ 0.19% USD/MXN17.47▼ 0.45% USD/CLP922.65▼ 0.54% USD/COP3,247▼ 2.86% USD/PEN3.39▼ 0.31% USD/ARS1,487▼ 0.03% USD/UYU40.22▲ 1.20% USD/PYG6,055▲ 1.53% USD/BOB10.14▲ 4.01% USD/DOP58.48▼ 0.12% USD/CRC448.82▲ 1.40% USD/GTQ7.63▲ 2.28% USD/HNL26.72▲ 1.50% USD/NIO36.62▲ 0.26% USD/VES707.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD158.07▲ 0.80% USD/TTD6.75▲ 1.32% EUR/BRL5.83▼ 1.10% BRENT 76.02 ▼ 0.37% WTI 71.56 ▼ 0.72% IRON ORE 161.91 — — COPPER 6.29 ▲ 1.13% GOLD 4,120 ▼ 0.25% SILVER 60.17 ▼ 0.35% SOY 1,190 ▲ 0.83% CORN 460.25 ▲ 7.60% WHEAT 639.25 ▲ 4.58% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% 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 — 0.00% OMA 235.73 ▼ 0.95% KOF 182.08 ▲ 0.65% GRUMA 282.99 ▲ 0.14% KIMBER 38.13 ▼ 0.81% SQM-B 68,100 ▼ 1.45% COPEC 6,099 ▲ 1.31% BSANTANDER 78.29 ▲ 1.02% FALABELLA 5,945 ▲ 1.61% ENELAM 85.44 ▲ 1.52% CENCOSUD 2,049 ▼ 0.37% CMPC 1,108 ▲ 1.25% BANCO CHILE 187.54 ▲ 0.29% LATAM AIR 26.17 ▼ 0.87% YPF 74,400 ▼ 1.81% 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 — 0.00% GRUPO AVAL 5.07 — 0.00% CREDICORP 401.09 ▲ 2.34% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.00 — 0.00% MERCADOLIBRE 1,858 ▲ 2.78% NUBANK 13.76 ▲ 0.66% XP 16.92 ▲ 3.11% PAGSEGURO 9.25 — 0.00% STONE 11.21 ▲ 2.28% GLOBANT 29.96 — 0.00% TECNOGLASS 43.90 — 0.00% GAP AIRPORT 235.64 — 0.00% ASUR 285.12 — 0.00% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.01 — 0.00% 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 — 0.00% SANTANDER BR 5.40 ▲ 4.96% AMBEV ADR 3.06 ▲ 0.66% CSN 1.02 ▲ 6.32% GERDAU 4.50 — 0.00% LATAM ADR 56.45 — 0.00% BTC 63,738 ▲ 0.86% ETH 1,791 ▲ 2.65% SOL 77.73 ▼ 0.40% XRP 1.10 ▲ 0.93% BNB 574.76 ▲ 1.11% ADA 0.17 ▲ 0.05% DOGE 0.07 ▲ 1.62% AVAX 6.73 ▲ 0.70% LINK 7.90 ▲ 2.14% DOT 0.87 ▲ 5.44% LTC 44.57 ▲ 1.84% BCH 245.10 ▲ 3.08% TRX 0.33 ▼ 0.39% XLM 0.19 ▲ 1.77% HBAR 0.07 ▼ 0.19% NEAR 1.87 ▼ 2.52% ATOM 1.59 ▲ 2.46% AAVE 96.38 ▲ 5.62% SELIC 14.25% EMBRAER 84.60 ▲ 0.88% EMBRAER ADR 66.02 ▲ 0.72% JBS 11.90 ▲ 1.45% JBS BDR 60.78 ▲ 1.22% MBRF3 15.55 ▲ 0.91% MBRFY 2.97 ▼ 1.00% INTER 5.82 — 0.00% IBOV 177,866 ▲ 2.97% IPSA 11,032 ▲ 0.06% IPC MEX 66,433 ▲ 0.49% MERVAL 3,280,224 ▲ 2.43% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,194.27 ▲ 1.29% USD/BRL 5.11 ▼ 0.19% USD/MXN 17.47 ▼ 0.45% USD/CLP 922.65 ▼ 0.54% USD/COP 3,247 ▼ 2.86% USD/PEN 3.39 ▼ 0.31% USD/ARS 1,487 ▼ 0.03% USD/UYU 40.22 ▲ 1.20% USD/PYG 6,055 ▲ 1.53% USD/BOB 10.14 ▲ 4.01% USD/DOP 58.48 ▼ 0.12% USD/CRC 448.82 ▲ 1.40% USD/GTQ 7.63 ▲ 2.28% USD/HNL 26.72 ▲ 1.50% USD/NIO 36.62 ▲ 0.26% USD/VES 707.92 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 158.07 ▲ 0.39% USD/TTD 6.75 ▲ 1.44% EUR/BRL 5.83 ▼ 1.08% BRENT 76.02 ▼ 0.37% WTI 71.56 ▼ 0.72% IRON ORE 161.91 — — COPPER 6.29 ▲ 1.13% GOLD 4,120 ▼ 0.25% SILVER 60.17 ▼ 0.35% SOY 1,190 ▲ 0.83% CORN 460.25 ▲ 7.60% WHEAT 639.25 ▲ 4.58% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% 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 — 0.00% OMA 235.73 ▼ 0.95% KOF 182.08 ▲ 0.65% GRUMA 282.99 ▲ 0.14% KIMBER 38.13 ▼ 0.81% SQM-B 68,100 ▼ 1.45% COPEC 6,099 ▲ 1.31% BSANTANDER 78.29 ▲ 1.02% FALABELLA 5,945 ▲ 1.61% ENELAM 85.44 ▲ 1.52% CENCOSUD 2,049 ▼ 0.37% CMPC 1,108 ▲ 1.25% BANCO CHILE 187.54 ▲ 0.29% LATAM AIR 26.17 ▼ 0.87% YPF 74,400 ▼ 1.81% 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 — 0.00% GRUPO AVAL 5.07 — 0.00% CREDICORP 401.09 ▲ 2.34% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.00 — 0.00% MERCADOLIBRE 1,858 ▲ 2.78% NUBANK 13.76 ▲ 0.66% XP 16.92 ▲ 3.11% PAGSEGURO 9.25 — 0.00% STONE 11.21 ▲ 2.28% GLOBANT 29.96 — 0.00% TECNOGLASS 43.90 — 0.00% GAP AIRPORT 235.64 — 0.00% ASUR 285.12 — 0.00% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.01 — 0.00% 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 — 0.00% SANTANDER BR 5.40 ▲ 4.96% AMBEV ADR 3.06 ▲ 0.66% CSN 1.02 ▲ 6.32% GERDAU 4.50 — 0.00% LATAM ADR 56.45 — 0.00% BTC 63,738 ▲ 0.86% ETH 1,791 ▲ 2.65% SOL 77.73 ▼ 0.40% XRP 1.10 ▲ 0.93% BNB 574.76 ▲ 1.11% ADA 0.17 ▲ 0.05% DOGE 0.07 ▲ 1.62% AVAX 6.73 ▲ 0.70% LINK 7.90 ▲ 2.14% DOT 0.87 ▲ 5.44% LTC 44.57 ▲ 1.84% BCH 245.10 ▲ 3.08% TRX 0.33 ▼ 0.39% XLM 0.19 ▲ 1.77% HBAR 0.07 ▼ 0.19% NEAR 1.87 ▼ 2.52% ATOM 1.59 ▲ 2.46% AAVE 96.38 ▲ 5.62% SELIC 14.25% EMBRAER 84.60 ▲ 0.88% EMBRAER ADR 66.02 ▲ 0.72% JBS 11.90 ▲ 1.45% JBS BDR 60.78 ▲ 1.22% MBRF3 15.55 ▲ 0.91% MBRFY 2.97 ▼ 1.00% INTER 5.82 — 0.00%
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Chile Latin America

Political future of Chilean President increasingly uncertain

By · April 28, 2021 · 2 min read

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RIO DE JANEIRO, BRAZIL – Chile’s Constitutional Court (TC) rejected on Tuesday a request by the government of Sebastián Piñera seeking to disapprove of a constitutional reform that Congress passed into law for a third pandemic aid withdrawal of 10% of the pension funds.

In a plenary 7-3 vote, the TC did not accept the challenge for unconstitutionality and cleared the way for final parliamentary approval of the bill, which seems inevitable following the Senate’s green light last week.

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In other words, the only way Piñera can stop the third pandemic aid withdrawal of 10% of pension fund accounts is to veto it. Many in Chile see this as political suicide.

The TC’s decision caused an immediate uproar in the political world. Senator Iván Moreira, from the right-wing Independent Democratic Union (UDI), assured that “this is a very great defeat for the Government,” which will have to assume serious consequences.

Moreira pointed out that the chief executive did not foresee the effects of sending this project to the TC, approved with more than a two-thirds vote in the National Congress, could have, and warned that this would even imply a change of cabinet.

Socialist Deputy Maya Fernández asked the president not to veto the constitutional reform and sign it, so that millions of Chileans can receive 10% of their pension savings.

Deputy Camila Vallejo of the Communist Party pointed out that the ruling of the TC ”is a huge defeat for the government by an institution as close to La Moneda as the Constitutional Court“ and considered that Piñera should immediately sign the reform approved by the parliament.

Deputy Pamela Jiles of the Humanist Party, one of the promoters of the bill, underlined that ”today is the end of the Piñera government, curiously at the hands of that anti-democratic monstrosity, which is the TC.” She also said, “Piñera will be able to continue. I don’t know for how long in La Moneda, but he will be vegetating; he will be an ornament.”

After the ruling was known, an emergency meeting of the Political Committee was called immediately from the La Moneda Palace, headed by the president, to decide what to doin the face of this new situation.

In addition to being strongly criticized at the time by almost all political parties, including his own ruling party, the request presented by Piñera to the TC generated a wave of protests in the country with cacerolazos, barricades in the streets, and even the call for a general strike for this coming Friday.

La Moneda went to the TC last week, intending to block it under the pretext that the draft was unconstitutional because it mortgaged the future of Chileans and would leave almost five of the 11,000,000 listed in the system without pension funds.

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