By Ricardo Lezama 
According to ‘El Pais’, Uruguayan economy experiences a fresh wave of inflation as the US dollar reaches new heights in the local market, marking its strongest performance in the last five months. Meanwhile, notable Uruguayan company dLocal suffers a blow as their shares plummet to a record low on Wall Street.
El dólar sube en Uruguay y alcanza el mayor valor en cinco meses; la acción de dLocal en Wall Street cae a mínimo https://t.co/s3ZmNViwmm https://t.co/7dVuQQJMHg
— EL PAÍS (@elpaisuy) June 14, 2024
Additionally, the profitability of exporters drops by a significant 14% since the start of 2022, foreseeing a potentially even bleaker outcome towards the end of the year.
Politics and Accusations
Accusations floated about the current government led by Luis Lacalle Pou and Martin Lema. Critics accuse them of siphoning state funds towards companies and NGOs that supported them in the elections, implying a possible misuse of power and corruption. These purchases allegedly had clear beneficiaries and lacked proper invoicing, raising questions about transparency within the administration. Subsection: Future Solutions and Outrage: Amidst the economic chaos, proposals for a “Fuel Stabilization Fund” emerge. This initiative aims to counter the fuel price volatility in the country, potentially providing a financial cushion for consumers. However, the public sentiment remains divided, with some individuals expressing their grievances about politics, calling for the removal of communism from the justice and education system, implying dissatisfaction with the status quo.