The earthquake in Chile earlier this year destroyed Chilean processing plants tightening world supply of fishmeal and causing world market prices to hit an all-time high. Chile is the world’s second biggest exporter of fishmeal, second only to Peru.
Latest forecasts from the International Monetary Fund (IMF) predict Chile and Peru will lead Latin America’s growth in 2011 with an expansion of 6% each. The IMF released its World Economic Outlook Report on Wednesday, upping Chile’s projected growth from 4 to 4.7%.
Protesters in the southern Peruvian province of Islay ended their six-day general strike after the government agreed to temporarily suspend a controversial mining project.
Latinamerican countries with a greater link to China such as Chile, Brazil and Peru are moving out of the crisis faster and stronger according to a World Bank report which underlines the increasing significance of the Asian giant for the region.