According to the Central Bank's Economic Expectations Survey, market agents estimate that Chile's GDP will fall by 2.7% in 2020, worse than the 2.2% contraction they predicted a month ago. According to the survey, April's Monthly Economic Activity Indicator (Imacec) would have registered a drop of 8.10%, although some respondents said the economy in the fourth month of the year would have fallen to 12%.
Kingston Family Vineyards, a 100-year old family farm & vineyard in Chile's Casablanca Valley that is as much of an educational institution as a winegrowing business, has made Forbes ’ Fifth Annual Small Giants List. One of the reasons why this company is being highlighted is because it has reinvented its business during the pandemic.
According to a central bank poll of analysts, Chile’s gross domestic product is expected to shrink by 7.2% in the second quarter as COVID-19 continues to ravage the economy of the world’s top copper producer.
The sales of fast food service recorded a 10.7% decline in the first quarter of 2020. According to the indicator created by the Studies Department of the National Chamber of Commerce, Services and Tourism (CNC), this is the worst figure in the history of its measurement.
The Central Bank of Chile requested a two-year flexible line of credit (FCL) in the amount of $23.8 billion from the International Monetary Fund (IMF). This is intended to protect economies from potential external shocks by providing broad, upfront access to IMF resources, without ex post conditions. The IMF is currently analysing the request.