Latin American countries issue financial aid measures to counter pandemic impacts

Mar 31, 2020

In an effort to mitigate the impact of the coronavirus on the economy, especially of families that have been left without income due to the quarantine, some Latin American countries have launched financial aid programs these last days. Check below the actions taken by Argentina, Chile, Peru and, Brazil:

Argentina

The Argentine government announced an aid of 10,000 pesos (about $ 155) for those workers among 18 and 65 years old who have been without income source, whether formal or informal, due to the interruption of their economic activities. At first, it will be a single payment in April, but, according to the government, the benefit could be extended in May, if the determination of total isolation remains. “We want to make sure that all Argentines are protected from this crisis,” explained Economy Minister Martín Guzmán. According to the Argentine newspaper Clarín, the benefit is expected to reach 3.6 million families.

Chile

The Chilean Congress approved, on Friday night (27), the payment of a bonus to support families and micro, small, and medium-sized companies, due to the economic impact that the Covid-19 virus is generating.

The benefit – 50,000 pesos (about $ 60) – was, at first, aimed at nearly two million people who are beneficiaries of both the Family Subsidy and the “Securities and Opportunities” Subsystem – but then was updated to reach those corresponding to the most vulnerable 60% of the population, who do not have family responsibilities and who are, to date, beneficiaries of State subsidies. With the above, the number of beneficiaries rises to about 2 million 670 thousand people, as informed local media outlet La Tercera. The benefit is expected to be available for withdrawal during April.

READ ALSO: Logistics in Latin America: what to expect amid coronavirus pandemic

Peru

The Ministry of Development and Social Inclusion in the country approved the list of households in poverty or extreme poverty that will receive the subsidy, of 380 soles (about $ 110), ordered by the Government to reduce the economic impact caused by the coronavirus. As informed by El Comercio, The Minister of Development and Social Inclusion, Ariela Luna, initially pointed out that 2,750,000 families, accounting for 9 million Peruvians, from all over the country would benefit from the economic assistance.

According to local newspaper El Peruano, president Martín Vizcarra announced that the bonus for vulnerable families during the national emergency will be updated to a total of 760 soles (about $ 220). At a press conference, he explained that initially, the bond was 380 soles because it was intended for a period of 15 days, but since the emergency period is extended, the benefit will be double. The amount will be released gradually.

In Brazil, as previously informed by LABS, the financial aid of up to BRL 1,200 (around $ 230) to low-income families still needs to go through the Senate this week, so that aid is made available to the population as soon as possible.

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The post about “Latin American countries issue financial aid measures to counter pandemic impacts" first appeared on the LABS website.


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