Argentina Gas Prices to Rise 20% in 2022; Chile’s Incoming Govt Pledges to Control Debt

A roundup of Wednesday’s news from across Latin America

Bloomberg Línea
February 23, 2022 | 07:20 PM

Bloomberg Línea — Gas prices in Argentina will rise by 15% for SMEs and 20% for residential users on average this year, as the administration of President Alberto Fernández moves forward with the update of tariffs.

Chile’s incoming Finance Minister Mario Marcel has pledged to reduce economic uncertainty and seek to control debt levels as he prepares to take the reins of the economy as part of the new administration of President-elect Gabriel Boric, who takes office on March 11.

On the stock markets, Colombia’s main index Colcap was the leader among its Latin American peers, closing with a 1.19% hike. The market benefited from the performance of the financial sector. Bancolombia (BCOLO) shares led the day, after the entity reported its annual results for 2021 on Tuesday afternoon and announced an increase in the dividends it will deliver to its shareholders.

PUBLICIDAD

Mexico’s stock market was the worst performer in Latin America on Wednesday, and its main index, the S&P BMV/IPC (MEXBOL) closed with a drop of 2.35%.

Following is a roundup of Wednesday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.

Argentina:

Brazil:

  • A $200 million loan for Marfrig Global Foods (MRFG3) has fallen apart amid growing concern that Brazil’s second-biggest beef producer is fueling deforestation in the Amazon. The Inter-American Development Bank’s private-sector arm shelved a plan to lead the syndicated loan after a series of setbacks. First, a vote on the financing was pushed from December to May, according to two people familiar with the matter. The bank couldn’t agree with the company on environmental targets, as well as the financial terms of the loan, said one of the people. Now, the loan is inactive, according to IDB’s website, and will no longer go up for a vote.

Chile:

Colombia:

Dominican Republic:

Ecuador:

El Salvador:

Mexico:

Uruguay:

Venezuela:

This is how the region’s markets closed on Wednesday, February 23: