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Chile Experiencing Highest Immigration Growth In Latin America

By: Karina Martín - May 29, 2017, 4:20 pm
(Twitter)
Chile is reportedly a safer country to live in than other options. It also has a higher level of economic development. (Twitter)

EspañolChile saw a larger increase in immigration than any other country in Latin America between 2010 and 2015, according to new reports.

The Economic Commission for Latin America and the International Labor Organization reported that immigration in Chile has grown by approximately 4.9 percent per year, which is more than Mexico, with 4.2 percent and Brazil, with 3.8 percent.

The report said about 80 percent of foreigners entering Chile have, on average, more than 10 years of education.

 

According to data from the United Nations, immigrants in Chile grew from 369,436 in 2010 to 469,436 in 2015.

Immigrants represent 3.1 percent of the total population between the ages of 20 and 29. Between the ages of 30 and 39, they represent 4.1 percent of the population, and between the ages of 40-49 they represent 2.4 percent.

According to Roberto González, a researcher at the Center for Studies on Social Conflict and Cohesion, immigrants are flocking to Chile due to its “good employability, stability and security. It is seen as a place where they are treated relatively well.”

Additionally, National Director of the Department of Immigration and Migration Rodrigo Sandoval said that the existence of already-established groups such as the Peruvian, Colombian, Haitian and Venezuelan communities, attract immigrants to the country over other possible destinations.

Chile is “a safer country to live in, it also has a higher level of economic development, which, in principle, should offer better job opportunities,” said Medardo Aguirre, Director of the National Center for Migration Studies at the University of Talca.

Sources: La Tercera; ADN Radio.

Karina Martín Karina Martín

Karina Martín is a Venezuelan reporter with the PanAm Post based in Valencia. She holds a bachelor's degree in Modern Languages from the Arturo Michelena University.

Goldman Sachs Throws Financial Lifeline to Venezuela’s Regime

By: Elena Toledo - @NenaToledo - May 29, 2017, 2:18 pm
pdvsa-venezuela-goldman-sachs

EspañolGoldman Sachs Group Inc. has purchased approximately US $2.8 billion in Venezuelan bonds held by the country's central bank. The company has has been called a "mouthpiece" for President Nicolás Maduro's dictatorial regime, which is struggling to raise funds amid growing civil unrest. Last week, the asset management division of the New York-based bank paid US $0.31 cents — or about $865 million — for bonds issued by state-owned oil company Petróleos de Venezuela S.A. (PDVSA) in 2014, which are due in 2022, according to five people close to the transaction. This price represents a discount of 31 percent on Venezuelan securities. The investment comes at a time in which Maduro's detractors are pushing hard to prevent foreign banks from conducting business with his regime, which has been accused by the United States and other countries of widespread human rights violations. . googletag.cmd.push(function() { googletag.display('div-gpt-ad-1459522593195-0'); });   Maduro's growing authoritarianism, coupled with a critical shortage of food and medicine, have caused two months of near-constant demonstrations, which have resulted in approximately 60 deaths. The economy is also suffering, shrinking by 27 percent since 2013. The International Monetary Fund estimated that during this year alone, inflation will reach 720 percent. According to sources close to the The Wall Street Journal, Goldman Sachs is betting that a change in government will bring back double the value on debt, trading at very discounted rates with yields of an estimated 30 percent thanks to fear of default. One senior Venezuelan finance official confirmed the agreement, but declined to give further details. Goldman Sachs did not negotiate the deal, but rather bought the bonds through an anonymous broker, according to three sources. Read More: Venezuelan Opposition Holds Nationwide Sit-down to Protest Dictatorship Read More: Flour Shortages Hit Venezuelan Churches as Priests Are Left without the Host for the Eucharist Those who oppose this measure believe that participating in any financial deal would give much needed funding to Maduro, whose polls say he has the support of only one in five Venezuelans. The Venezuelan regime has "shelved" the general elections and is now organizing a revision of the constitution, which opposition leaders say will put an end to the few constitutional protections that Maduro's political opponents have. "Goldman is on the wrong side of history with this agreement," said opposition lawmaker Angel Alvarado, a member of the Venezuelan congressional finance committee. "This is a bad decision not only from an ethical point of view, but also from a business perspective," he said. Alvarado added that an opposition-led administration would refrain from doing business with Goldman, whose asset management business manages US $1.3 trillion. PDVSA's 2022 bonds bought by Goldman last week had been, until recently, held by the Central Bank of Venezuela. The international reserves of the Central Bank of Venezuela jumped from US $442 million to US $10.8 billion on Thursday when the bond agreement was completed, according to official figures. Source: The Wall Street Journal

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