Like many other countries, Chile is resorting to pump-priming in a bid to protect jobs and businesses. Last month, the government announced a $4 billion fiscal stimulus package, small beer compared with the programmes announced in China, the US and Europe but still a sign that the authorities are keen to be seen to be doing something.
The counter-cyclical package is the equivalent of 2.8% of GDP and includes direct support for low-income families, investment in public infrastructure, tax cuts and other incentives for private investments.
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