Chilean congress agrees to $12 billion emergency coronavirus plan

Chilean Finance Minister Ignacio Briones announced a fresh, two-year, $12 billion citizen support and economic stimulus package to overcome the effects of the pandemic. The economic plan, funded by a mix of budget reallocations, sovereign funds and debt issuance, includes bolstered emergency benefits for Chile’s most vulnerable families from payments of 65,000 Chilean pesos to 100,000 ($126) per person.

Copper production in Chile grew by 3.8%

Chile continues to welcome foreign investors because it is important to present the country as an attractive and safe place for investment and trade. One of the many areas receiving capital and state-of-the-art technologies, both domestic and foreign, is the mining industry. However, this doesn't only apply to copper but also various minerals. From January to April, copper production in Chile grew 3.8% year-on-year, to 1,874,000 metric tons.

Chilean investment app looks to expand to Mexico in 2021

In October 2019, Boris Garafulic Dominguez started developing a white-label app called Racional, a digital investment advisor, that allows the user to invest in equity and fixed income ETFs to be traded on the Santiago Stock Exchange. Before investing, the app asks the user simple questions to profile their risk level which together with their investment profile generates the right mix of exposure in each ETF available in the local stock market. The goal is to have 1,000 active users this year, and that their objective is to expand this app to Mexico in 2021.

Card fraud rate fell 37% in April amid pandemic

According to data provided by the Undersecretariat for Crime Prevention on the fraudulent use of credit and debit cards, between January and April of this year 18,186 police cases were recorded, representing a 37% decrease in the crime rate per 100,000 inhabitants year-on-year. The Investigation Police (PDI) also consolidated figures of complaints subdivided by fraud, grooming, phishing and fraudulent use of cards which overall reflect that in May there was a 15% decline over the same period in 2019.

Chile faces highest sea lice levels in eight years

Chile entered 2020 with the highest sea lice levels in eight years, a situation expected to contribute to tighter supply as the year progresses. Chile-based farmed salmon producers are continuing to move toward non-pharmaceutical sea lice treatment methods, but the industry still lags behind those in other regions in adopting mechanical treatment methods for the parasite that, while effective, are both costly and are still being tested under Chilean conditions. The increasing resistance of the fish to chemical treatments is one of the causes of the rise in sea lice.