SANTIAGO Chile´s central bank said on Wednesday it would hold its benchmark interest rate steady at 1.75%, and would likely keep it there for the next several months, even as weeks of protests begin to hammer the country's economy.
SANTIAGO The Chilean government announced plans on Monday to roll out a $5.5 billion economic recovery plan and issue more debt in foreign currencies after rioting and protests triggered the worst monthly contraction in a decade.
SANTIAGO Chilean lawmakers agreed late on Wednesday to fast-track reforms to beef up security, warning that a resurgence in violence and vandalism was threatening to derail the country's 30-year-old democracy.
SANTIAGO Chile's president asked lawmakers to allow troops back on the streets on Tuesday to defend public infrastructure, even as a human rights group reported "grave" abuses by security forces during five weeks of rioting in one of South America's richest countries.
SANTIAGO Chilean miner SQM , the world's No. 2 lithium producer, said a month of violent protests in the South American nation would not dent the company's sales or volume forecasts for 2019.
SANTIAGO Chile's independent human rights watchdog said on Saturday it would file a formal complaint for murder against police officers who allegedly prevented paramedics from attending a heart attack victim amid a protest Friday.
SANTIAGO Chile's stock exchange posted its biggest daily gain in 11 years after lawmakers agreed on Friday to hold a referendum on replacing the country's dictatorship-era constitution, bowing to protesters furious over inequality and social injustice.
SANTIAGO Chile's finance minister predicted on Thursday that as many as 300,000 jobs could be lost because of the impact of four weeks of rioting on one of Latin America's strongest economies. | Video
SANTIAGO Chile's finance minister warned on Tuesday of the "grave consequences" for the nation's economy of three weeks of often violent unrest, after the peso slid 4% to hit a historic low against the dollar.
(Adds context, value of lithium exports)
By Dave Sherwood
Nov 7 Chile's export revenue plunged by
one-fifth to $5.3 billion in October, the central bank said on
Thursday, an early sign of a faltering economy amid the worst
unrest since the South American nation's return to democracy in
Weeks of sometimes violent protests, riots, arson and
looting in Santiago and elsewhere have led to at least 23 deaths
and more than $1.5 billion in damage to businesses, according to
authorities and rights groups.
The value of copper exports from the world's top producer
fell by 22% in October to $2.5 billion, driven primarily by
falling prices for the red metal.
Chile's copper mines have mostly maintained production and
kept operations running normally despite weeks of unrest in the
country, industry insiders told Reuters this week, though there
have been incidents at some operations and uncertainty lingers.
The value of lithium carbonate exports, meanwhile, fell 9%
to $73 million in October. Chile is the world's No. 2 producer
of lithium, a critical ingredient in the batteries that power
Protesters from indigenous communities around Chile's
Atacama salt flat, among the world's richest reserves of the
ultralight metal, blocked access to lithium operations two weeks
ago. Top producer Albemarle said the protests had not
impacted production. Chilean miner SQM did not respond
to requests for comment.
Import revenue also fell 20%, to $5.6 billion in October,
central bank data showed.
October Sept October
2019 2019 2018
Trade balance -$307 mln -$19 mln -$313 mln
Exports (billions of $5.257 $5.205 $6.626
Imports (billions of $5.564 $5.224 $6.939
Copper export revenue $2.515 $2.763 $3.244
(billions of dollars)
(Reporting by Dave Sherwood; editing by Jason and Bernadette