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Economy / Chile


August 2011 | Ratings Update

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The ongoing clashes between student protesters and Chilean President Sebastian Piñera's administration, which led to the recent two-day general strike and the subsequent police shooting, and death, of a 16 year old boy, Manuel Gutierre, has prompted us to downgrade our short-term political risk rating for Chile from 79.2 to 76.7. The order for police General Sergio Gajardo to resign and the suspension of the five police officers involved will do little to appease the protesters, and the required involvement of Piñera in upcoming negotiations could prompt us to further downgrade our rating if the issues are not resolved