MercoPress. South Atlantic News Agency

Breaking News from Chile.

Headlines:
Record low country risk for Chile; Spain's Aznar visits Chile for second time in five years; Red tide intensifes in Punta Arenas.

Record low country risk for ChileChile begins the financial week with the lowest country risk in the region, an extraordinary 82 basic points, 94 less than a year ago in the midst of the Latinamerican turbulence. The country risk is measured by the interest rate spread between US Treasury bonds and other sovereign bonds. . Chile's 2007 bonds now have a 69,42 basic points rating; 2009, 69,70 bp; 2013, 84,57 bp and 2012, 90,02 bp. . Mexico has the second lowest country risk rating in the area with 195 bp having dropped 136 bp during 2003. . Mexico is followed by Peru with 299 bp., Colombia 457 bp. . However defaulted Argentina that still has pending negotiations with creditors is rock bottom of the list with 6,112 bp. . Brazil stands half way with 582 bp, a considerable drop from December 2002, 1,446 bp.

Spain's Aznar visits Chile for second time in five years

Five years after his first official visit, Spanish Prime Minister Jose Maria Aznar returned to Chile on Sunday as the two countries again enjoy excellent relations despite disruptions caused by the shadow of former dictator Augusto Pinochet. . Aznar arrived in Santiago from Bolivia, where he had taken part in the 13th Ibero-American Summit of Heads of State and Government, and he plans to pursue official business through Monday. . The visit is Aznar's first to Chile since the October 1998 arrest in London of former dictator Augusto Pinochet by order of Spanish Judge Baltasar Garzon - an ordeal that strained relations between the two nations. . Aznar, a member of the Popular Party (PP), is visiting the country two years and five months after socialist President Ricardo Lagos traveled to Madrid in June 2001. . Lagos and Aznar, on that occasion, said they had overcome their differences on the Pinochet affair, pledged themselves to a strategic alliance and laid out a new agenda. The rosy relations between the two leaders, however, failed to prevent a difference of opinion - and constant phoning - in the days leading up to the U.N. Security Council vote on invading Iraq. . Chile on Jan. 1 had joined Germany, Spain, Pakistan and Angola as rotating, two-year Council members and wound up voting against an invasion - much to the chagrin of the United States and Spain. . The privileged relationship the two countries share within the Ibero-American community - embracing, as it does, political, cultural, social and economic elements - is best reflected in their trade balance. . Chile and Spain last year exchanged some $805.5 million in goods and services, official figures show, while Spanish investments in Chile between 1993 and 2001 exceeded $13 billion, turning the European country into the largest foreign investor in Chile after the United States. . Since 2001, both nations have also fulfilled the main goals Lagos and Aznar set out in the new agenda meant to mark the reestablishment of bilateral ties. . These include the May 2002 signing of a political, economic and cooperative agreement with the EU in Madrid, in whose realization Spain played a prominent role and which was signed in Brussels Nov. 18, 2002, while Spain was acting EU president. . Another landmark in the new phase of relations was the July signing in Madrid of an agreement to eliminate double taxation between the two nations, inked with an eye toward boosting investment and trade. . Months before Lagos' official trip to Spain, Chile's Foreign Minister Soledad Alvear and Deputy Foreign Minister Heraldo Muñoz had been in Madrid. . Conversely, Chile had received Spanish Economy Minister Rodrigo Rato; Spain's Foreign Minister Josep Pique, who came in March 2001, and opposition leader Jose Luis Rodriguez Zapatero (PSOE) and Education Minister Pilar del Castillo, both of whom visited this month. . Additionally, officials from several of Spain's autonomous regions have been to Chile recently, as have many business and cultural groups. . Both governments like to say that Chile and Spain have no urgent matters pending to resolve, just issues to discuss. . Aznar's agenda includes an informal Sunday luncheon with Lagos at his summer residence on the Pacific Coast and a meeting with the Chile's Spanish community. Upon kicking off his official visit Monday, Aznar plans to meet with Lagos at the La Moneda palace before joining him to hold a joint press conference. . Aznar is expected to meet with Chilean entrepreneurs and speak with opposition leader and current Santiago Mayor Joaquin Lavin, a member of the Independent Democratic Union (UDI), considered ideologically to the right of Europe's right. . He is also to meet with Senate president Andres Zaldivar and lower house leader Isabel Allende, the daughter of former President Salvador Allende, who died in the Sept. 11, 1973, storming of La Moneda by soldiers Pinochet led. . During his previous official visit to Chile in March 1998, Aznar was received by President Eduardo Frei (1994-2000), a member of the Christian-Democratic Party. . Aznar has been friends with Alvear since well before he became prime minister of Spain.

Red tide intensifes in Punta Arenas

A constant increase in the level of red tide toxins has been reported during the last few weeks in the maritime territory surrounding Punta Arenas according to the latest lab simples taken by the Chilean Fisheries Institute. . The latest samples from Puerto Edén to the north of Punta Arenas and close to Torres del Paine Park indicate toxin levels of 4,000 micrograms in shell fish when the acceptable level for human consumption is 80 micrograms per 100 grams of sea food, reported radio "Agricultura" in the extreme south of Chile. . To make things even more delicate in those areas open for mussel and other sea shells extraction the toxin level, produced by micro algae, has experienced sustained growth and is almost in the limit. . Furthermore local police and sanitary officials confiscated 128 bags of contaminated mussels extracted in the Magellan Strait. . Punta Arenas authorities are once again alerting local residents to only consume sea food with official sanitary certification. . The red tide toxin has paralyzing effects on humans with a high mortality percentage.