Some define it as a “mystery”, others as a “miracle”: every so often, the desert of Atacama, one of the driest areas in the world, is covered with a blanket of thousands of flowers in a vibrant and colorful spectacle that, according to experts, could be threatened by the climate change. The rains are those […]
Tag: Chile
Insurers could sue Chile in international courts
Updated on 10/15/2021 02:43 am Insurance companies warn Chile that could go to court if a bill is passed that allows people to demand advance payments of their annuities. Principal Financial Group has initiated formal consultations with Chile, a process stipulated in international trade agreements, due to losses arising from the legislation on pension withdrawal. […]
Chile launches lithium auction in bid to speed up production
Chile announced an auction process to award operating contracts to explore and produce 400,000 tons of lithium metal for batteries, in an attempt to boost production and meet global demand. The measure comes as the Andean country, which is in the so-called “lithium triangle” of South America and is one of the world’s leading producers […]
Sebastián Piñera, a skilled businessman surpassed by a turbulent Chile
The president of Chile, Sebastian PiñeraA skilled and millionaire businessman, he was at a crossroads in the final stretch of his second government, marked by a social outbreak, an economic and health crisis, and now engulfed in uncertainty by an impeachment process. At 71 years of age, Piñera, owner of an estimated net worth of […]
Central Bank of Chile applies an interest rate hike to 2.75% due to the rise in inflation
The Central Bank of Chile announced this Wednesday, October 13, the increase in its benchmark interest rate from 1.50% to 2.75%, the biggest rise in 20 years, in a context of inflationary pressures. The issuing entity made the decision to raise the so-called monetary policy rate (MPR) unanimously by the members of its Board, when […]
Central Bank of Chile decides the largest increase in 20 years at an interest rate of 2.75% due to inflationary pressures
Updated on 10/13/2021 06:35 pm The Central Bank of Chile announced an increase in its interest rate reference to 2.75% per year from 1.50%, the highest increase in 20 years, in a context of inflationary pressures. In the midst of a “marked and systematic” deterioration in financial markets, the monetary authority raised the interest rate […]
Chile will open tenders for exploration and production of 400,000 tons of lithium
Updated on 10/13/2021 05:22 pm Chile open bids for exploration and production of 400,000 tons of lithium with the aim of meeting the growing demand for this metal worldwide, the Ministry of Mining reported this Wednesday in a statement. The national and international call will be made “through a public, competitive and transparent process” in […]
The Chilean Government on the impeachment of Piñera: “It has electoral purposes”
The government of Chile said that the constitutional accusation presented by the opposition to remove the country’s president, Sebastian Piñera, after its inclusion in the Pandora Papers, “Has no legal basis” and its objective is “purely electoral”. “We have not seen in the history of Chile a haste, a lack of seriousness when it comes […]
Opposition presents impeachment against President Piñera for the Pandora Papers
The opposition presented this Wednesday in the Chamber of Deputies the constitutional accusation (impeachment) against the president of Chile, Sebastián Piñera, after the alleged irregularities in the sale of a mining megaproject revealed in the Pandora Papers (Pandora Papers). “The grounds for this constitutional accusation are twofold: one, because the president has openly infringed the […]
Not even an interest rate hike would save the worst emerging currency
It is possible that the monetary policy makers of Chile announce the biggest hike to the interest rate key in two decades, however, even that is unlikely to prop up the burdened weight. The currency has fallen more than 11% in the second half of the year, the worst performance among the 24 emerging market […]