Chile hit with Cu, Covid-19 and political crisis

摘要

Chilean banks, which already were bracing for fallout from political turmoil, are now also having to contend with a global health pandemic that is threatening the country's economy. Widespread and prolonged social unrest in the latter months of 2019 - spurred initially by a hike in metro fares that subsequently exploded into a constitutional crisis - led to Chile's weakest economic performances in a decade. GDP contracted 2.1% year over year in the fourth quarter, reversing from a 3.4% expansion in the previous quarter. Both exports and imports declined, consumer spending shrank, and the country's currency started to show signs of weakening. The situation battered bank profits.