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LatinNews Daily - 23 March 2021

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In brief: More emergency funds made available for pandemic response in Chile

* Chile’s President Sebastián Piñera has announced the creation of a new US$6bn ‘Covid fund’ that will be made available to finance emergency measures to combat the negative social and economic effects of the coronavirus (Covid-19) pandemic. President Piñera noted that the new funds represent 2% of Chile’s GDP and that these will come from the increased revenue that Chile is expected to receive from its copper exports following a rise in international copper prices, as well as from the Fondo de Estabilización Económica y Social national savings fund. “The magnitude and extension of the pandemic and the global [economic] recession continue to hit Chilean families hard, making the support provided by our social network necessary for the next few months”, Piñera said, announcing that initiatives such as the emergency family income, which provides vulnerable families with a monthly handout, will extended until June. Since the onset of the pandemic, the Piñera administration has disbursed US$12bn in emergency funds to mitigate its effects.