Chile’s economy grew by about 6.2 percent in 2011, a very solid growth rate considering the European financial crisis and economic instability affecting much of the world. While 6.2 percent was the average, certain industries in Chile outperformed the overall economy and grew by almost 10 percent, bringing more attention from the investment community within [...]
SANTIAGO- CORFO (Corporación de Fomento de la Producción), the organization responsible for economic development in Chile has announced details of the new Fénix Fund, which will contribute US$150 million dollars to Chilean companies for mining exploration, with a focus on small to medium enterprises. Mining Minister Hernán de Solminihac and Minister of Economy Pablo Longueira [...]
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South America depends too much on exporting their resources and are at a higher risk if there is a global slowdown. Forecasts for raw materials are said to be in decline and Bloomberg suggests two reasons to be worried, “The failure to boost productivity, and tackle longstanding gaps in education and infrastructure, make the region more [...]
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SANTIAGO- The Central Bank of Chile has surprised market analysts by dropping official interest rates from 5.25% to 5%. In a statement released after close of trading on Thursday, the board of the Central Bank reiterated its commitment to a flexible monetary policy. After 6 months without changing the rate, many expected new bank President Rodrigo [...]
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PUERTO VARAS – EXPERIENCIA ENDEAVOR was the name of the conference organized by non-profit organization called Endeavor Chile. The conference was a meeting point for small entrepreneurs and major business leaders in Chile. Due to the ashes in the air, coming from Puyehue volcano, that erupted in early June this year, some flights to Puerto Varas [...]
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SANTIAGO — Chile will begin a program of offering 20-year, fixed-rate bonds, with the aim of increasing foreign investment, and to move away from the UF index to bonds valued in pesos. The central bank of Chile has announced a $6 billion debt calendar, which will being with the sale of $544 million worth of [...]
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Another year has flown by. How was it for you? Was it good? Wasted? It was good for me. I lived my first full year in Chile. YAY! Notice I said, “First.” I will be here a while, you lucky people. I have learned a lot about Chile and how things are done. There is [...]
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SANTIAGO — Chile’s Foreign Investment Committee has announced a total of US$13.8 billion was authorized over the course of the year, a new record for Chile. The previous record of US$13.3 billion was set in 2010, this year’s total being an increase of 4 percent. There is no surprise which industry tops the list of [...]
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SANTIAGO — Copper prices have dropped, leading to a decline in the price of the Chilean peso. China is the biggest buyer of Chilean copper, and according to Bloomberg, house prices have declined in over 70 cities. To add to the instability, the death of North Korean leader Kim Jong Il has led to speculation [...]
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Financial analysts from the Ministry of the Economy of Chile, Chilean business schools and South American banks are all forecasting a slight slow down in grow in Chile next year. Most expect between 4-5 percent growth for 2012, a drop of 1 or 2 percent from this year. When looking at the global economy as [...]
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