• Short Summary

    A sharp drop in Stock Exchange prices on the Chilean market and panic withdrawals from banks by many small savers was an indication of the fear of an economy crisis following the Presidential Election held there on September 4.

  • Description

    1.
    GV PAN queues inside bank
    0.24

    2.
    CU stock markets exchange board being marked
    0.32

    3.
    GV & SV stock market scenes (3 shots)
    0.46

    4.
    CU International Vaccination Office sign
    0.51

    5.
    GV crowd outside vaccination office
    1.00

    6.
    SV interior, Government Passport office
    1.14

    7.
    SV & CU passport being checked (4 shots)
    1.30



    Initials BB/TB/PS



    Script is copyright Reuters Limited. All rights reserved

    Background: A sharp drop in Stock Exchange prices on the Chilean market and panic withdrawals from banks by many small savers was an indication of the fear of an economy crisis following the Presidential Election held there on September 4. The Poll victory to Salvador Allende, a strong-line Marxist.

    Despite a general feeling of confidence in the future of Chilean economy on the international finance scene, Stock Exchange prices in Santiago recently dropped by 30%, and then the market became virtually inactive.

    The Government imposed a 50% tax on foreign currency bought by Chileans. The move followed rumours of a flight of capital from the country in the wake of the presidential Polls victory of Salvador Allende.

    Finance Minister Andres Zaldivar declined to give details of the increase in money circulation following a sharp rise in withdrawals from banks. He told pressmen the measures were being taken to meet the credit and payments situation. He did not elaborate further.

    The 50% currency tax is in addition to regulations already in force restricting buying by travellers to 360 dollars for journeys within Latin America, and 720 dollars to the rest of the world.

    The sudden demands on the banks came after Senor Allende said he would nationalise them. The minor panic was quashed, for the time being at least, when the Central bank gave the public its assurances.

    Although there is no concrete reason for anyone in Chile at the present time to believe the economy is in jeopardy, there have been queues at both the Government Passport Office and International Vaccination Office. It is a requirement that anyone leaving Chile must either be vaccinated or show a valid vaccination certificate.

  • Tags

  • Data

    Film ID:
    VLVA2ROBEJM29M71B8JIRPQI1AX6B
    Media URN:
    VLVA2ROBEJM29M71B8JIRPQI1AX6B
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    13/09/1970
    Sound:
    Unknown
    HD Format:
    MP4
    Stock:
    Colour
    Duration:
    00:01:30:00
    Time in/Out:
    /
    Canister:
    N/A

Comments (0)

We always welcome comments and more information about our films.
All posts are reactively checked. Libellous and abusive comments are forbidden.

Add your comment