Chile’s cenbank says economy will shrink more than expected in 2020 as coronavirus bites

SANTIAGO, Dec 9 — Chile’s central bank today said the economy of the world’s top copper producer would contract by 5.75 per cent to 6.25 per cent in 2020, a sharper fall than previously predicted, as the coronavirus continued to weigh heavily on its output.

The bank, however, predicted gross domestic product would rebound between 5.5 per cent and 6.5 per cent in 2021, according to its Ipom quarterly economic report, a stronger recovery than initially expected. — Reuters