Skip to main content

CHILE’S COMMERCIAL SECTOR PREDICTS GROWTH IN 2006

A newly released market analysis by Chile’s Production and Trade Confederation (CPC) predicts that Chile’s economy will grow by 5.5 percent in 2006. The report highlights internal demand as the continued driving force behind Chile’s economic expansion.

Strong gains are expected in the banking sector with a predicted growth rate of 13 percent in 2006. The construction industry is also expecting another boom year with the Chilean Chamber of Construction planning to increase investments in infrastructure by eight percent, slightly less than 2005, but private construction companies predict a 14 percent overall increase because of investments in production capacity over the last year.

The pulp and paper industry is also expected to increase its production capacity this year. The Chilean Wood Corporation (CORMA) estimates that cellulose, milled wood, lumber, and newspaper production will increase capacity by 10 percent, representing an 8.3 percent profit increase over 2005.
Mining should continue to boost Chile’s economy. The continued high price of copper, estimated at an average annual rate of US$1.65 to US$1.75 for 2006, as well as increases in production capacity, and the opening of new mining deposits has Chile’s National Mining Society (SONAMI) optimistic about the future. Chile expects to mine approximately 31.3 percent of the total world copper output this year which should translate into a five percent overall growth rate.

Comments

Popular posts from this blog

Moving to the Suburbs: Reducciones in Recent Latin American Historiography

In 1503, the Spanish monarchy issued its first decree for the resettlement of indigenous groups in the Caribbean so that they would “live together” and “not remain or wander separated from each other in the backcountry.”[1]

As the European conquest spread to North, Central, and South America, these new settlements – known as reducciones and congregaciones in Spanish and descimentos in Portuguese – became sites of forced labor, evangelism, experimental agricultural, and refuge. Through a series of imperial policies decreed over the next decades and centuries of colonial rule, Spanish and Portuguese officials attempted to reshape the New World, including its human and natural landscapes. How colonial historians explain this process and indigenous peoples’ reactions to it is the focus of this essay.

In a review of the recent historiography of reducciones, several trends emerge that signal a shift in our understanding of the practice. As this paper will show, one common element is that …

77-Year-Old Wall Street Favorite to Face Fujimori in Peru Runoff

By Nathan Gill and John Quigley April 12, 2016 (Bloomberg) -- The victory by Pedro Pablo Kuczynski, a former finance minister, for second place in Sunday’s Peruvian president elections sets up a showdown between two business-friendly candidates, part of a regional backlash against left-wing politicians.
Kuczynski, a 77-year-old Oxford-trained political economist who’s spent more than 50 years championing debt control and free trade, won 21 percent of vote with 96 percent of the ballots counted, according to the electoral office. He will face Keiko Fujimori, who won 39.8 percent, in a second-round vote on June 5.
Click here to read the full story on Bloomberg News.

Bailout Risk Grows for Ecuador After Worst Earthquake in Decades

By Nathan Gill April 19, 2016 (Bloomberg) -- Before a 7.8-magnitude earthquake struck Ecuador on Saturday, the South American nation’s finances were already in tatters as the government struggled to meet payments to municipal authorities, oil companies and even cancer hospitals. Cut off from global bond markets, President Rafael Correa must now find enough money to rehouse thousands.
As volunteers continue to rescue victims from the rubble of collapsed homes and buildings on Ecuador’s Pacific coast, doubts are growing about the country’s ability to pay for the reconstruction. The nation is already in its worst recession since the financial system collapsed in the late 1990s, and international reserves are at their lowest levels in almost seven years.
Click hereto read the full story on Bloomberg News.