Economic outlook “quite favourable” despite unrest, finance minister

Chile's economic outlook is "quite favourable" despite months of political unrest in the country, Finance Minister Ignacio Briones told foreign correspondents in Santiago. "We should stress that we have a scenario of positive growth," Briones said. The government forecasts a 1.3% growth for 2020, "relatively higher" than the central bank projection of 1%, noted Briones. Prior to the outbreak of anti-government protests in mid-October, a 3.3% expansion in gross domestic product (GDP) was forecast.

Chile’s peso falls 1.04%, lowest level in 2020

Chile’s peso sank by 1.05% (810.70/811 per dollar) on Monday amid fears about the spread of the coronavirus. The American currency ended the session with a rise of CL$5.60 comparing to Friday after a peak of CL$813. This is was highest level since last November 29, when it touched $ 810.00. "If there is a greater expansion of the coronavirus, the currency pair could perfectly show a greater momentum, especially if a new social unrest in Chile creates less local activity in the coming months", said Ricardo Bustamante, Head of Trading Studies at Capitaria.

Chilean Government is retraining 2,600 police to deal with protests

Chile government and security forces are preparing for a potential revival of last October violent unrest initially triggered by a student protest which strongly hit the country economy. They are retraining 2,600 members of the security forces in protest-control methods and human rights, acquiring new armoured cars, drones and body cameras, as well as trying to improve their intelligence services.