Political Risk Latin America Blog @PolRiskLatam

Obama Visit, a Boost for Piñera

Posted in News and Articles, Political Risk by politicalrisklatam on March 22, 2011

by Kenneth Bunker for Americas Quarterly Online, March 21st, 2011.

President Obama’s visit to Chile coincides with President Piñera’s completion of the first year of his four-year term. Although his administration has been highly effective at rebuilding the massive damage of the 2010 earthquake and tsunami, Piñera’s approval ratings are at their lowest level yet. Almost immediately after being sworn in, Piñera took a hit in the polls.

The unnecessary delay in selling two of his most emblematic companies (a television station, CHV, and LAN Airlines) sparked debate on potential conflicts of interest. Although he was able to regain some support after the successful rescue of the trapped miners, a popular revolt triggered by the decision to raise natural gas prices in the south sent approval ratings in a downward trajectory.

Though Piñera later sold his companies (or provisionally signed them over to non-profit organizations) and promptly announced that gas prices would only marginally increase, several other minor unforced and unpopular decisions have underscored his first year in office. Some of these errors can be attributed to the difficulties of running a country ruled by the opposition for the past 20 years. But others should be understood as part of Piñera’s natural entrepreneurial character, which naturally entails a certain amount of risk-taking. (continue reading… )



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