Chile's Larrain says civil unrest will 'undoubtedly' have an impact on the economy
By Fabian Cambero SANTIAGO (Reuters) - Chile's finance minister Felipe Larrain said on Monday that civil unrest which has claimed 11 lives, shut down the transport network and seen scores of businesses damaged will 'undoubtedly' have an impact on the economy. Larrain told a press conference in Santiago that the situation remained 'relatively normal', adding: 'What we have tried to ensure is that in the face of this adversity the payment system works properly
By Fabian Cambero
SANTIAGO (Reuters) - Chile's finance minister Felipe Larrain said on Monday that civil unrest which has claimed 11 lives, shut down the transport network and seen scores of businesses damaged will "undoubtedly" have an impact on the economy.
Larrain told a press conference in Santiago that the situation remained "relatively normal", adding: "What we have tried to ensure is that in the face of this adversity the payment system works properly.
"Undoubtedly this is going to have an effect on the economy, on economic activity. We can diminish that effect by working together but it will be a significant effect."
The Central Bank governor Mario Marcel said the bank had not considered it necessary to adopt additional measures to keep financial markets operational.
(Reporting by Fabian Cambero; writing by Aislinn Laing, Editing by Franklin Paul)
This story has not been edited by Firstpost staff and is generated by auto-feed.
also read
France, Germany to agree to NATO role against Islamic State - sources | Reuters
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
China's Xi says navy should become world class | Reuters
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.