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Finance Minister Marcel Remains Upbeat On Economy

CHILE
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  • The worst moment for the Chilean economy was in the third quarter of last year, Finance Minister Mario Marcel told reporters on Monday. (BBG)
  • What is relevant about the quarterly accounts is that in Chile there were 13 quarters in which activity declined compared to the previous quarter, but that trend was broken in the fourth quarter.
  • Regarding the Credit Suisse crisis, Marcel said that he does not fear contagion effects, stating that “Chilean banks are solid and we do not have the regulatory issues that caused these problems”.
  • Marcel foresees that the AFP self-loan project will be rejected on Tuesday, indicating the worst thing would be to increase uncertainty at this juncture.
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  • The worst moment for the Chilean economy was in the third quarter of last year, Finance Minister Mario Marcel told reporters on Monday. (BBG)
  • What is relevant about the quarterly accounts is that in Chile there were 13 quarters in which activity declined compared to the previous quarter, but that trend was broken in the fourth quarter.
  • Regarding the Credit Suisse crisis, Marcel said that he does not fear contagion effects, stating that “Chilean banks are solid and we do not have the regulatory issues that caused these problems”.
  • Marcel foresees that the AFP self-loan project will be rejected on Tuesday, indicating the worst thing would be to increase uncertainty at this juncture.