October 21, 2019 / 7:37 PM / a month ago

Chile's Larrain says civil unrest will 'undoubtedly' have an impact on the economy

FILE PHOTO: Chile's Finance Minister Felipe Larrain attends the meeting of the Finance Commission at the Congress in Valparaiso, Chile October 2, 2019. REUTERS/Rodrigo Garrido

SANTIAGO (Reuters) - Chile’s finance minister Felipe Larrain said on Monday that civil unrest which has claimed 11 lives, shut down the transport network and seen scores of businesses damaged will “undoubtedly” have an impact on the economy.

Larrain told a press conference in Santiago that the situation remained “relatively normal”, adding: “What we have tried to ensure is that in the face of this adversity the payment system works properly.

“Undoubtedly this is going to have an effect on the economy, on economic activity. We can diminish that effect by working together but it will be a significant effect.”

The Central Bank governor Mario Marcel said the bank had not considered it necessary to adopt additional measures to keep financial markets operational.

Reporting by Fabian Cambero; writing by Aislinn Laing, Editing by Franklin Paul

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