In 2019, the founder of Mercado Libre decided to move to Uruguay. However, the unicorn increased its income by 30% in Argentina according to the latest balance
By iProfessional
07/05/2023 – 8.08 pm
The businessman took the work of an economist who points out that in five decades the GDP per inhabitant of Latin America increased 110% and that of Argentina only 15%product of 18 recessive years, four disruptive events and two periods of structural stagnation.
Marcos Galperin is not only the richest businessman in Argentina. He is about the entrepreneur who founded Mercado Libre at the worst of the 2000 crisis thinking of democratizing trade. He then followed Mercado Pago to democratize financial services. And in less than 20 years his companies are already the most valuable in Latin America.
That is why each of his statements are taken into account. In 2019 Galperin decided to move to Uruguay. However, Mercado Libre continues to grow in the country, as reflected in its latest balance sheet in which its income in Argentina grew 30%. Of course they were surpassed by those of Brazil and Mexico.
Galperin’s retweet
This afternoon, the co-founder and main shareholder of Mercado Libre retweeted an intervention on the social network by Esteban Domecq, director of the consulting firm Invecq, in which the economist compares the very uneven evolution of GDP per inhabitant in Argentina in the last 50 years with the one that in the same period had the GDP per inhabitant of Latin America, taken as a region.
“In five decades, Latin America’s per capita GDP increased 110%. In the same period, Argentina’s barely 15%, as a result of 18 years of recession and four disruptive events and two periods of structural stagnation,” Domecq said.
The economist pointed out as the 4 disruptive events the “rodrigazo” that occurred in June 1975, during the government of Isabel Perón, the debt crisis that began in 1982, the hyperinflation that occurred in 1989, during the government of Raúl Alfonsín, and the crisis 2001, when after a long recession a banking corralito was established, the government of Fernando de la Rúa fell, his immediate successor, Adolfo Rodríguez Saá, declared default before the Legislative Assembly, a parade of presidents followed in the last week of the year and, already at the beginning of 2022, the convertibility break occurred and an economic-social collapse occurred during the presidential interim of Eduardo Duhalde.
Domecq also identified two periods of “structural stagnation”, the period 1975-1990 and the one that began in 2011 and lasted until today.
