Category: Chile

Chile’s Supreme Court has rejected an appeal for bail for former president of Peru Alberto Fujimori. Fujimori was arrested two weeks ago in Chile after arriving from Japan where he has been since resigning his presidency and fleeing Peru in 2000. Last week an Appeals Court rejected an initial request for bail. Fujimori faces charges in Peru of corruption and human rights abuses.

Inversiones Aguas Metropolitanas (IAM), Chile’s largest drinking water provider, has suspended a planned secondary share offering citing a failure to reach the minimum share price set. IAM had been looking to raise $550 million via the local market with a listing of 49.9% of its stock.

Masisa, Chile and Latin America’s leading wood board manufacturer is looking to raise $160 million via a share offering to increase the company’s capital. Around 40% of the shares to be offered will be preferential shares made available to existing shareholders. The offering will be made via the Santiago Stock Exchange on 7 December.

A Chilean Appeals Court has ruled that former President of Peru Alberto Fujimori must remain in jail while extradition proceedings take place and has rejected an appeal against his imprisonment without bail. Fujimori faces charges in Peru of corruption and human rights abuses. He resigned his presidency and fled to Japan in 2000.

The Chilean peso has hit a five-year high against the US dollar, up to 523.20 pesos yesterday. Buoyant copper prices continue to boost exports and drive the currency higher. The peso has risen 13% against the US dollar in the past 12 months, one of the best performing developing market currencies in the world. Analysts believe the currency will continue to appreciate this year in the light of good economic indicators.

Chile has raised its benchmark overnight lending rate again, from 4.25% to 4.50%, to help curb inflation. This is the eleventh rate hike since last September. The Central Bank raised the overnight rate 25 basis points last month. Annual inflation rose to 4.1% in October from 3.9% through September, the highest rate in two-and-a-half years.

Former president of Peru, Alberto Fujimori, who was arrested in Chile on Monday at the request of the Peruvian government, has been denied bail. Fujimori arrived on Sunday in Santiago, Chile from Japan where he has been since fleeing Peru in 2000 after resigning his presidency. Peru has unsuccessfully fought his extradition from Japan since he left Peru on charges of human rights abuses and corruption charges. Fujimori has said he plans to run in Peru’s presidential elections next April.

Chile’s year-on-year growth slowed to 5.5% in September from 5.9% in August as the mining and construction sectors cooled off. Analysts had predicted expansion of 5.8%. The Central Bank says it expects annual growth this year of around 6%, slightly below earlier government figures of 6.2%.

Former Peruvian President Alberto Fujimori has been arrested in Santiago, Chile, at the request of Peru. Fujimori arrived Sunday afternoon from Japan in a surprise visit. He recently confirmed that he plans to run in Peru’s presidential elections due to take place next April. This despite the human rights and corruption charges he faces in that country. Fujimori has been in Japan since resigning his presidency in 2000. Peru has unsuccessfully fought his extradition from there since then.

Peru’s Congress has approved a bill to redraw the country’s maritime border with southern neighbor Chile. The new border will give Peru an additional 37,900 square kilometers of prime fishing waters in the Pacific Ocean. Chile has called the move illegal, something which Peru denies.