On Friday, June 27, the president of Paraguay, Santiago Peña, signed the decree corresponding to the 3.6 % increase in the country’s minimum wage.

“In this way, workers’ compensation is adjusted by 100,739 guaraníes, increasing the current monthly salary to 2,899,048 guaraníes (about US$366.9 at the current exchange rate) and leaving the minimum daily wage at 111,502 guaraníes,” local media reported.

Peña indicated that this increase is the result of a recommendation from the National Minimum Wage Council (CONASAM), “in accordance with the year-over-year variation of the Consumer Price Index (CPI), based on inflation data from the last 12 months.”

According to the presidential decree, the minimum wage increase goes into effect today, July 1. The president acknowledged that workers’ income “requires a more exhaustive analysis and an adjustment more in line with the daily cost of citizens’ quality of life.” He emphasized his desire to ensure that not a single citizen earns less than the minimum wage.

M.Pino

Source: xinhuanet

(Reference image source: Tobias Meza on Unsplash)

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La entrada Paraguay decreed a 3.6 % increase in the minimum wage apareció primero en Bitfinance.

Mexico is one of the countries in America with the greatest growth in the adoption of cryptocurrencies through remittances that citizens abroad send to their families for daily sustenance, to help to establish a business, studies or other purposes.

Of course, it cannot be considered the panacea or solution to all the economic problems of Mexicans. But they do constitute a simple, safe and fast way to send money to those who receive low salaries, are unemployed, among others.

According to recent data on the crypto market, “more than 3.1 million Mexicans are already investing in cryptocurrencies, making Mexico one of the countries with the highest adoption of these technologies in Latin America.”

Remittances in cryptocurrencies have been a driving force “that boosts consumption, injecting vitality into the local economy.” This money is used by those who receive it in their accounts for “the purchase of food and medicine, investment in education and housing, remittances become a lifeline for many families, especially in rural areas and with fewer job opportunities.”

Younger people see digital assets as an investment opportunity, despite market volatility, thanks to the large number of crypto exchanges that offer services in Mexico.

In general, cryptocurrencies have promoted financial inclusion and access to financial services for those who remained excluded from the traditional system. New business opportunities are opening up for this segment.

M.Pino

Source: cointelegraph

(Reference image source: Jorge Aguilar in Unsplash)

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La entrada Cryptocurrency adoption increases in Mexico thanks to remittances apareció primero en Bitfinance.

Venezuela registered an accumulated inflation of 4.1 % in the first quarter of the year, after adding 1.2 % in March, the same as in February and 1.7 % in January, reported the Central Bank (BCV).

The 1.2 % rate is the lowest the nation has recorded since August 2012, when goods and services became more expensive by an average of 1.1 %, according to official information.

The BCV indicated that the sector that registered the greatest increase in prices last March was health, with an average increase of 1.6 %, followed by food and non-alcoholic beverages, clothing and footwear and “miscellaneous goods and services”, with increases of 1.3 %.

Between 2017 and 2021, Venezuela experienced hyperinflation with monthly increases of up to three digits, the highest of 196.6 % in January 2019, which rapidly reduced the purchasing power of workers and the value of the bolivar, the currency national, which led the country to unofficially adopt the US dollar as a way to protect itself against this crisis.

Currently, even the price of gasoline is set in dollars, at 50 cents per liter.

The government expects Venezuela to close 2024 with the lowest inflation in the last decade, as reported last March by President Nicolás Maduro, who assured he had a plan to continue slowing the pace of price growth.

Meanwhile, university professors and workers from various sectors demand that the authorities increase the minimum wage, the reference for other salaries in the public sector, which is equivalent to about $3.5 per month.

With information from El Sumario

(Reference image source: archive)

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La entrada BCV: Venezuela registered an inflation of 4.1 % in the first quarter of 2024 apareció primero en Bitfinance.

The Government of France announced this week the increase in the minimum wage in the region, which will now be 1,353 euros per month.

This increase represents 1.8%, about 24 euros, more than the minimum income that an employee received in France during 2022. Per hour, the minimum wage rises from 11.07 euros to 11.27.

The increase in salary is given automatically each year, based on the interannual inflation published in November by the French Institute of Statistics (Insee). During 2022, however, it had already been subject to three revaluations to protect the purchasing power of the French against price increases.

Among other important measures announced for this year, fast food restaurants must put aside the use of disposable containers for products that are consumed in establishments.

K.Tovar

Source: Bancaynegocios

(Reference image source: freepik, via web)

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La entrada Minimum wage in France increased apareció primero en Bitfinance.

The Government of the Netherlands announced that a 10 % increase in the minimum wage is planned for 2023.

The measure, which will be accompanied by the injection of some 15,000 million euros, aims to deal with the effects of inflation, as indicated by the Executive during the budget memorandum for 2023.

The four center-right parties that make up the government coalition reached an agreement on next year’s state budget, and as usual at this time, the details have already begun to leak to the local press, before its official presentation in Prinsjesdag , the third Tuesday of September and beginning of the political course.

This new income would take effect from January 1st with immediate effect, and not a fractional increase in three parts as originally planned, according to sources close to the government.

The 15,000 million that will be dedicated to this package are double what the Dutch Government spent this year to protect the purchasing power of low-income households, an increase that will seek in 2023 to compensate for inflation and the increase in the costs of low income energy.

K. Tovar

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Source: Bancaynegocios

La entrada The Netherlands will raise the minimum wage in 2023 apareció primero en Bitfinance.

Salvadoran government ministers are discussing the possibility of paying salaries  in bitcoin, after the approval of the law that gives legality to the digital currency and that will come into effect next September.

Officials from the Ministry of Labor, Finance and Economy of the Central American nation are reviewing whether companies should start paying wages in cryptocurrency, as Rolando Castro, Ministry of Labor and Social Welfare said.

Castro also referred to a proposal for reforms to the Labor Code that was presented by the Farabundo Martí National Liberation Front (FMLN) to increase the minimum wage in the country, which is currently around 300 dollars.

By converting bitcoin into legal tender, it has the same status as the dollar, the official currency adopted by the nation 20 years ago. Therefore, the beneficiaries, including all multinational companies, are obliged to accept digital currency as a form of payment.

Although in the Central American country the modification of monetary policy is not very controversial, some dissenting voices shor their concern about the volatility of bitcoin and the difficulties that groups or populations have to access technology. However, others consider that the initiative could boost foreign investment and solve certain existing limitations such as sending and receiving remittances.

M. Rodríguez

Fuente: laprensagrafica.com

La entrada Salvadoran authorities analyze paying salaries with Bitcoin apareció primero en Bitfinance.

Inflation in Venezuela stood at 19.6 % in May, accumulating a level of 2,950 % in the accumulated period of twelve months and 307.3 % so far this year, as reported this Wednesday by the Venezuelan Observatory of Finance.

The coordinator of the Observatory, Alfonso Marquina, has pointed out that the monthly inflation rate for May is the second lowest so far this year, due to the record of a lower growth rate of liquidity (26 %) compared to the month of February and the devaluation of the exchange rate by 1 %.

Prices in the services sector increased by 26.3 %, the highest rise among all categories, due to the progressive adjustment of rates in this type of activity. The group of food and non-alcoholic beverages posted an increase of 22.5 %, while communication services grew 21.8 %.

During the month of May there was evidence of the deepening of the decrease in purchasing power, mainly of the most disadvantaged sectors. On the other hand, the value of the food basket for a family of five has reached a historical maximum of 296.54 dollars, equivalent to almost 900 million bolivars. It represents a growth of 41 % since November 2020 and 18 % since January of this year, so Venezuelans need 132 minimum wages to be able to access the food basket.

Fuente: dpa

La entrada Inflation in Venezuela advances 19.6 % in May apareció primero en Bitfinance.

The technology company Sequoia Holdings, has managed to reconcile for its workers a savings plan valued in cryptocurrencies among which they distinguish: bitcoin, bitcoincash or ether, which will become part of their salary payment.

The objective of the incentive is to ensure that human capital has the option of reserving a part of their salary and investing it in cryptocurrencies and thus stimulating the collective in the use and management of digital currencies.

The news released by the company through a statement states that the majority of “our employees are enthusiastic supporters of cryptocurrencies, and we are happy to help them gain exposure to this trillion-dollar asset class […] cryptocurrencies have emerged as an important alternative to traditional investments such as stocks and bonds.”

A good initiative

The initiative suggests the optional integration of cryptocurrencies in employee salary agreements and although the company draws an analogy with retirement savings plans to a large extent among other US employees, the difference is that in this case the deferral it will be calculated after deduction of taxes.

Virginia-based Sequoia Holdings is dedicated to providing engineering and analytics solutions to the security industry in the United States, and includes the nation’s intelligence, defense, and national security departments.

K.Villarroel

Source: cointelegraph

La entrada Technology company in Virginia offers its employees payment in crypto apareció primero en Bitfinance.