Chile economic plan to tackle the corona crisis

Chilean President Sebastián Piñera announced on Sunday a wide-ranging package of financial measures to try to cushion the economic and social crisis caused by the pandemic.

This package aims to help the hard-hit Chilean middle class to overcome the crisis through state-funded COVID credits, extensions of mortgage payments, and rental subsidies for families with a medium to low-income level.

Chile's economy contracted by -15.3% in May compared to the same month last year - the worst fall in several decades, driven by the negative effects of compulsory quarantines to curb the spread of the coronavirus, according to the Chilean Finance Minister.

Despite some of the strictest measures in the region, Chile has diagnosed 299,000 cases of coronavirus and counted 6,384 deaths.

In addition, the number of infections is thought to be far higher because many people have not been tested, and studies suggest people can be infected with the virus without feeling sick.

(Representative Image)