The Adimark GfK consumer confidence index fell to 27.8 points in March, from 32.7 points in February, marking the lowest print in the survey’s history. Thus, the index fell deeper below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers.
Rio Tinto paid $7.6 billion in taxes and royalties globally in 2019, including $4.8 billion of corporate tax. The majority of its taxes were paid in Australia ($6.2 billion), home to the largest part of Rio Tinto’s business. The company also made significant payments in Chile ($311 million), Mongolia ($305 million), Canada ($291million), United States ($178 million), the United Kingdom ($117 million) and South Africa ($80 million).
The president of the Chilean Association of Banks and Financial Institutions, Manuel Mena, reported that in the midst of the crisis generated by the coronavirus in the country, the banking sector has received more than 625,000 requests for credit flexibility. Among the loans that have been asked for flexibility are consumer loans, mortgages and those for SMEs. In total, 92% of the requests have already been approved.
The Ipsa, the main indicator of the Santiago Stock Exchange, ended Tuesday's session with a fall of 0.98%, following the trend of Wall Street, where the Dow Jones fell 0.12%.
Foreign direct investment (FDI) in Chile between January and February of this year reached US$4.779 billion, according to the Central Bank of Chile. That's a 346% increase from the same period in 2019, when it reached US$1.071 billion. During February 2020, the flow of FDI into the country rose to US$444 million, making the accumulated amount the highest for the first two months of the year in the entire historical series (2003).
The Business Fund for Health in Chile has already reached CH$78.5 billion ($91 million) and is expected to soon exceed CH$80 billion ($92.8 million). The fund was created by the Confederation of Production and Commerce (CPC) to mitigate the impact of COVID-19 in the country. The fund's resources will be used mainly to assist foundations and to collaborate with the State in the purchase of medical supplies.