Macroeconomy/Finance

Chile announces new $1.5 billion package to help the middle class

Chilean President, Sebastian Piñera announced a new $1.5 billion package of measures to help keep the Chile’s ailing middle class afloat as the pandemic continues to ravage the country’s economy. The measures include access to zero-interest loans, subsidized rent and the ability to defer mortgage loan payments for up to six months. Piñera’s center-right administration has already announced two sprawling stimulus packages worth nearly 12% of GDP, aimed primarily at protecting small business, the poor and the unemployed.

Source: Reuters