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Chile was the most stable and prosperous South American country, but heading into 2020, it is collapsing financially. What’s the story?

Before discussing the present [October-Decembrer 2019] events, it is important to note that similar, albeit smaller scale, uprisings in Chile have become somewhat common. Some of the features of these earlier events are similar to what is currently going on. 2010: In the Magallanes region of Chile the natural gas prices are very low, and are heavily subsidised by the national government, through taxation and public monies. As a result of the low prices, construction typically avoids adequate insulation and…

Flight of the Phoenix – Christina Kirchner returns to power

It is often said that politics is theatre. This has been especially true during the past four years in Argentina, which has been a high-stakes melodrama along Kafkaesquelines, redolent with existential anxiety, alienation, and absurdity. The convoluted plot sees the ruling President Mauricio Macri and his coterie of media magnates and partisan judges trying to bury the immediate past president, Cristina Kirchner, in vexatious criminal prosecutions and relentless calumny. But when their neoliberal economic policies…

Political Risk Analysis: What’s Next For Argentina?

On October 28, 2019 voters in Argentina elected Alberto Fernandez, a political ally of controversial former President Cristina Fernandez de Kirchner, to replace Mauricio Macri, a business-friendly centrist, in the country’s executive office. The election marks a return to power for Argentina’s left and an uncertain path forward as the country still faces a number of long-term challenges. On December 10 Fernandez will take over as Argentina’s president. Foreign investors are…

Who are the Major Players in Latin America’s Cannabis Sector?

The legalization and use of cannabis is becoming more and more popular not only in North America and Europe but in Latin American countries as well. Investment is flowing into the region as it positions itself to be a leading supplier of the world’s cannabis market. But who is spearheading this movement for cannabis legalization in Latin America?   Uruguay’s legalization of cannabis sparked a wave for more liberal policies and laws across Latin America. Between the years 2015 and…

Lacalle Pou’s victory in Uruguay strengthens regional centre right

After an extremely close vote obliged the Electoral Court to execute an official recount, the conservative candidate emerges victorious by a narrow margin. His election marks a change in power and a shift to the right in Argentina’s neighbouring country. Conservative presidential candidate for the Partido Nacional Luis Lacalle Pou will be Uruguay’s next president, the Electoral Court confirmed today. The conserative Partido Nacional leader won the presidential run-off on November 24, his…

Bloomberg analysis: “Chile seeks to emerge from its crisis but is paying a very high price”

“It is at stake not only for social peace but also for the reputation of Chile’s fiscal prudence that has earned it the highest sovereign debt rating in Latin America,” the agency says. Chile bets on its status as a model example in favor of the market as the government rules out plans to reduce debt in favor of at least $1.5 billion per year in additional social expenses to appease the protesters. In the midst of violent demonstrations that reach a second month, officials are now planning…

A continuing crisis, the real estate sector in Buenos Aires had its 17th month of consecutive falls

Average transaction values fell 18.8% in US dollars, which could be an indication of the lower prices The real estate sector continued its 17th year-on-year fall in October after it was obvious the market-friendly government of Mauricio Marci was going to be replaced by the earlier corruption-ridden one of Christine Kirchner. According to the Colegio de Escribanos porteño, last month 3,152 settlements. This represents a drop of 14.1% from October 2018. However, against September purchases were up 9.8%…

Why did GTSA develop the vendeRAPIDO® selling process for selling real estate in South America?

There are two reasons. To speed up the selling time and maximise the properties value  Current Market Realities South American real estate markets are in the main lightly regulated and highly informal. What this means for vendors is they are at a strong disadvantage when they come to selling a property within a reasonable time frame.  Traditional times of sale are measured in months and years.   Consequently, transaction costs are among the highest in the world.  With the globalization…

Piñera says the Chile protests involved foreign intervention

The Chilean President said that he has received information from the U.S. State Department. suggesting that behind the violence there is more at play than “habitual criminals” Chile’s president Sebastián Piñera said his government is investigating foreign intervention in last month’s violent protests in one of the most prosperous countries in the region. “There’s a lot evidence that behind this situation there are forces that previously they did not know were…

Uruguay vote in Sunday’s presidential runoff – a crucial turning point or a continuation of the past

This Sunday 2.7 million Uruguayans will cast their ballots in the presidential runoff, which according to all opinion poll forecasts, will have Luis Lacalle Pou, the leader of an opposition multicolor alliance as head of the Executive next March, but equally significant, power switching, it will mark the end of fifteen years of almost undisputed predominance of a catch-all coalition, Broad Front, which ruled South America’s smallest country for three consecutive five-year mandates. In effect opinion polls,…

Personal Property Taxes in Argentina: A rush of accountant inquiries due to the fear of increased taxes

Accounting studios are increasingly receiving “emotional” inquiries from their most wealthy clients due to a change of government which has a reputation for hurting the upper middle classes. One option for savers or property owners is to obtain residency in Uruguay and renounce Argentina residency or form an irrevocable long-term trust and lose direct control over the money altogether. “The vast majority of consultations are for achieving an Uruguayan residency and losing their Argentine one.…

Ben Caballero Becomes the World’s First $2-Billion Real Estate Agent

2018 Sales Totaled Nearly 5,800 Homes for a Volume of $2.27 Billion Ben Caballero, the first Guinness World Record holder for home sales, broke his world record for an individual real estate agent, selling 5,793 homes totaling $2,270,911,643 in a single year. That’s according to data from local MLSs of the Houston Association of REALTORS®, North Texas Real Estate Information Systems, San Antonio Board of REALTORS® and the Austin Board of REALTORS®.…

Chinese demand pushes Brazil beef prices to record high

Brazil’s famous barbecue is getting more expensive as Chinese demand is increasingly swallowing up the country’s beef supply, pushing Brazilian cattle prices to a record high. China’s hunger for foreign meat has shot up as an outbreak of African swine fever has decimated its domestic pig population and has sent it looking for substitutes. Chinese imports of Brazilian meat are up 23.6% for January to October against the same period last year, meatpackers association Abrafrigo says. Wholesale…

Argentina sends its first shipment of chilled pork to China

Argentine has sent its first shipment of chilled pork to China, the government of the South American farming powerhouse said on Wednesday, as China’s pork imports rise due to a devastating outbreak of African swine fever at home. The shipment included 26 tons of pork cuts, according to a statement from the Agriculture Ministry in Buenos Aires. “This step further consolidates our livestock sector on the world market,” the statement said. Argentina announced it had clinched a deal in April to…

A group of like minded movers and shakers, seek to position Buenos Aires as one of the top 20 cities in the world

The Government of the Buenos Aires has created the BA Global Council, which will integrate important city companies and references of culture and education to attract visitors, talent and businesses. The Government of Buenos One launched a strategy of international projection of the city, with the aim of positioning it among the top 20 in the world. The project aims to install it as a leading city to live, visit, study and do business, with the aim of making it one of the global capitals in quality of life,…
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