Economy and Infrastructure
The Chilean economy is considered the best managed on the
continent. In the last twelve years, growth has been on a par with
the nations of the far east, averaging over 7%, while inflation
has gradually been brought to heel and now approaches levels
experienced in developed countries. Exports (copper and other
minerals, fruit, salmon, wood, fish meal, and manufacturing) reach
some US$16 billion annually. Foreign investment is at about US$ 5
billion/year. Chilean companies invest heavily in neighboring
countries as well as in others as far off as Russia. The
government is actively involved in reducing poverty and improving
infrastructure such as highways, ports and airports.
For further information about the Chilean economy, please see
our Links Page.
Government & Institutions
The branches of the government are separate and independent in
Chile. The President and the members of Congress are elected by
popular vote. The Executive Branch is headed by the President of
the Republic, advised by a Cabinet of Ministers. The Legislative
Branch is a bicameral Congress, headquartered at the port of
Valparaíso, consisting of a Senate an a Lower House (Cámara de
Diputados). The Judicial Branch is headed by the Supreme Court and
consists also of courts of appeal and lower courts. These and
other institutions are defined in the 1980 Constitution
as amended.
For further information about Chilean government &
institutions, please see our Links Page.
Telecommunications
Chile's telecommunications system is among the world's most
advanced, having been completely digitized some years ago. Since
the 1994 introduction of the multicarrier system, users have the
option to choose their long-distance service provider. Each
carrier has a 3-digit code, which is published in the press along
with current rates. The largest telephone companies have calling
centers and fax machines open to the public; public phones operate
with 100-peso coins or phone cards (available in kiosks). There
are numerous reasonable offers for cellular phone rental. For
international calls: simply dial carrier code + a + country code +
city / area code + number (example: New York via Entel: 123 + a +
1 + 202 + number).
Postal Service
Letters and postcards to North America and Europe take about 5-
7 days via airmail, and cost about Ch$300 (ca. US$O.80).
Money
The Chilean peso ($ or Ch$) circulates in coins of $1 and $5
(rarely used), $10, $50, and $100, and in $500, $1,000, $5,000 and
$10,000 bills. A new $2,000 bill - which should soon be changed
into a coin - is about to start circulating. Exchange rates have
remained fairly stable in recent years, averaging around US$1 -
Ch$415 or DM = Ch$240, although Asian currency crises have lately
pushed the US-dollar upwards, to about Ch$440. Dollars (in cash or
travelers' checks) are recommended over other forms of currency.
Exchange booths (casas de cambio), found in the center of most
cities, generally offer the best rates, followed by banks (open
9-14 h; Monday - Friday) and hotels. Credit cards (Visa,
MasterCard, Diner's Club and to a lesser extent, American Express)
are accepted in many hotels, shops and restaurants. ATM's
(identifiable by the name Redbanc) dispense Chilean pesos.
Travelers' checks in dollars may be changed in exchange booths,
and may be accepted as payment in hotels and travel agencies. |
