LatinNews Daily - 22 March 2021

In brief: Chile’s central bank highlights comparatively better recovery

* Mario Marcel, the president of Chile’s central bank (BCCh), has said that in real terms, the country’s GDP will see around a 0% variation between 2020 and 2021, with the economy expected to rebound between 5.5% and 6.5% this year after GDP contracted 5.8% last year as a result of the coronavirus (Covid-19) pandemic. “This is relatively positive compared with other countries in the region, like Argentina, Colombia, Mexico, and Peru, which will not recover in 2021 what they lost last year,” Marcel was reported as saying by national news site Emol. Marcel noted that domestic demand will drive economic recovery this year, thanks to an increase in consumption due to government transfers and pension withdrawals. Chile’s successful vaccination programme against Covid-19 has given hopes of a swift and strong recovery this year, but this currently looks threatened by a surge in infections.

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