The multinational AES increased its commitment to strengthen its operations in Colombia and Chile. In the last hours it announced an investment of $1.8 billion for the development of solar and wind energy projects in both countries. The new initiatives of non-conventional renewable sources will have an installed capacity of 1,600 megawatts (Mw).
Chilean companies erased all the gains in stock exchange assets they had generated during the decade, due to the impact of the October social crisis and the Coronavirus outbreak in the world. Of the 30 companies that conform the IPSA, 21 companies have a lower stock market capitalisation than they had in 2010.
The Chilean Central Bank announced the expansion of the current dollar and peso liquidity management program to mitigate the impact of the Coronavirus. Specifically, the REPO and FX Swap programs will be extended until January next year to facilitate liquidity management in the local financial system in the face of worsening financial conditions in international markets.
The arrival of the Coronavirus has hit the hotel industry with the cancellation of several business events. Forty percent of business trips are foreign visitors, so today it is Chileans who are sustaining the demand. And the outlook is for this to continue in the coming weeks due to CONVID-19.
Fitch maintains the rating of Chile's sovereign debt at "A", but adjusted the perspective downwards from Stable to Negative due to lower expectations for the economy as a result of the protests that have arisen in the wake of the social outburst.