• Contact us
  • Privacy Policy
  • Sitemap
  • Disclaimer
Thursday, September 21, 2023
NewsLiveNation
No Result
View All Result
  • Login
  • Contact us
  • Business
    • Economy
    • Finance
    • Insurance
  • Health
  • Lifestyle
    • Travel
  • News
    Michael Richards Net Worth

    Michael Richards Net Worth (2023): Car, Career, Awards.

    Twitter

    yesu_x Twitter: Biography and real identity

    Marcel Young: the son of legendary rap singer Dr. Dre

    Lou Sulola Samuel: A Child Supermodel

    Lou Sulola Samuel: A Child Supermodel

    Michael Other’s Tiffany Roy Bio

    Michael Other’s Tiffany Roy Bio

    Coronavirus variants detected via covid-19 tests, labs suggest

    Coronavirus Variant Detected via Covid-19 Tests,Labs Suggest

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Entertainment
    • National
    • Politics
    • World
  • Opinion
  • Science
  • Tech
  • Contact us
  • Business
    • Economy
    • Finance
    • Insurance
  • Health
  • Lifestyle
    • Travel
  • News
    Michael Richards Net Worth

    Michael Richards Net Worth (2023): Car, Career, Awards.

    Twitter

    yesu_x Twitter: Biography and real identity

    Marcel Young: the son of legendary rap singer Dr. Dre

    Lou Sulola Samuel: A Child Supermodel

    Lou Sulola Samuel: A Child Supermodel

    Michael Other’s Tiffany Roy Bio

    Michael Other’s Tiffany Roy Bio

    Coronavirus variants detected via covid-19 tests, labs suggest

    Coronavirus Variant Detected via Covid-19 Tests,Labs Suggest

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Entertainment
    • National
    • Politics
    • World
  • Opinion
  • Science
  • Tech
No Result
View All Result
Morning News
No Result
View All Result
Home World

Coronavirus Turns South American Nation’s Middle Classes Into New Poor

newslivenation by newslivenation
July 1, 2020
in World
0
Coronavirus Turns South American Nation’s Middle Classes Into New Poor
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

[ad_1]

Coronavirus Turns South American Nation's Middle Classes Into New Poor

People visit a popular market in Santiago amid coronavirus pandemic.

Santiago, Chile:

During more than three decades of boom in Chile, the middle classes reaped the rewards, but just three months of the coronavirus pandemic has already reduced many to poverty.

When a protest movement took to the streets against inequality in October, it was largely led by the middle classes.

The protests dragged on for months, affecting many small businesses — and just as those were starting to recover, the coronavirus struck in mid-March.

With high levels of debt, facilitated by easy access to credit, and a lack of state support, a significant number of the middle class have been left in a vulnerable situation by the virus crisis.

“The richest 10 percent is the only sector relatively bulletproof in Chile,” said Dante Contreras, assistant manager at the Center for Social Conflict and Cohesion Studies (COES).

Contreras is also a professor at the University of Chile, which has calculated that poverty has risen from nine to 15 percent.

There’s an emergency family fund that was created to help people cope with the health crisis, but it only covers households bringing in less than 400,000 pesos ($490) a month.

That accounts for only 34 percent of Chilean households, meaning the entire middle class — which makes up almost half of Chile’s 18 million people — gets nothing.

“What you see in Chile is a high degree of fluctuation in household income. Families that leave poverty and families that return to poverty. And that is a snapshot of the high level of fragility that makes it difficult for them to take long term decisions,” said Contrerasa.

‘Live or pay rent’ 

Pablo Martinez is a prime example. In just over one year, the 44-year-old has gone from a successful and solvent engineer living in an upper-middle class neighborhood to barely having enough to live.

Since being made redundant in March 2019, he has been unable to find work. 

During the first few months he used up his savings and unemployment insurance.

He started working as a driver for Uber, but work slowed when the protests broke out in October and dried up completely when the virus lockdown began.

“If before we were critical, now we’re practically paralyzed,” Martinez told AFP.

Whereas before he “lived relatively comfortably,” now he cannot afford to pay the rent.

“There’s living or paying the rent, I can’t do both.”

He and his wife have opened a shop selling personalized gifts, while he also gives guitar and piano lessons over the internet.

But it’s not enough, and he doesn’t qualify for state help.

Surveyor Rodrigo Acevedo, 44, is in the same situation.

After his job was suspended, he had to lean on the employment protection law that was created during the pandemic so that employees could access their unemployment insurance.

The first monthly payment was worth 70 percent of their salary, but that diminished progressively.

His $1,200 monthly salary meant he didn’t qualify for state aid, and he had to take his daughter out of a private college and enroll her in a public school.

“We had no other option,” he told AFP.

In Chile, there is a wide disparity in the level of public and private education and health care.

‘A drastic change’ 

Since 1990, Chile has dramatically reduced poverty from 40 to nine percent, but the middle classes improved their lifestyles through credit.

Now, 70 percent of those families live with unsustainable levels of debt.

A study by the University of Chile found that the self-employed had been the worst affected by the pandemic, seeing their salaries fall by 60 percent.

“The fall in the wellbeing levels of the middle classes is going to be significant,” said Contreras. “Even if they don’t fall into poverty, it will be a drastic change: changing from the private to public health system, the children’s schools or liquidating assets.”

Life has already changed for Pedro Castro, 54, a successful exhibition businessman whose business fell victim to the pandemic.

To make ends meet, he’s rented out his comfortable home in the trendy Nunoa neighborhood of the capital and moved his family to a cabin on the outskirts of Santiago.

“You have to go out onto the streets again,” Castro, who now sells purified water, told AFP. “To live off cards, off savings, to sell some machines to make money and payments.” 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

[ad_2]

Source link

Table of Contents

  • READ ALSO
  • Harlow Texas- is it really a haunted village?
  • Ruth Bader Ginsburg: A powerful personality. Check out the career details and Ruth Bader Ginsburg quotes in this article!

READ ALSO

Harlow Texas- is it really a haunted village?

Ruth Bader Ginsburg: A powerful personality. Check out the career details and Ruth Bader Ginsburg quotes in this article!

Tags: Chilecoronavirus

Related Posts

Harlow Texas
World

Harlow Texas- is it really a haunted village?

March 28, 2023
Ruth Bader Ginsburg quotes
World

Ruth Bader Ginsburg: A powerful personality. Check out the career details and Ruth Bader Ginsburg quotes in this article!

May 28, 2021
SAG Awards Nominations 2021: The complete list – News Live Report
World

SAG Awards Nominations 2021: The complete list – News Live Report

February 4, 2021
MPPEB Gramin Krishi Vistar Adhikari Admit Card 2021 Released, Direct Link Here- results.amarujala.com – News Live Report
World

MPPEB Gramin Krishi Vistar Adhikari Admit Card 2021 Released, Direct Link Here- results.amarujala.com – News Live Report

February 4, 2021
Australian prime minister says he invited Biden Down Under – News Live Report
World

Australian prime minister says he invited Biden Down Under – News Live Report

February 4, 2021
Biden faces calls to secure release of US man in Afghanistan – News Live Report
World

Biden faces calls to secure release of US man in Afghanistan – News Live Report

January 30, 2021
Next Post
Boeing Kept Regulator In Dark On Key 737 MAX Design Changes: Report

Boeing Kept Regulator In Dark On Key 737 MAX Design Changes: Report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

How To Make Self-Care A Part Of Your Routine

How To Make Self-Care A Part Of Your Routine

October 4, 2022
john-krasinski-net-worth

John Krasinski Net Worth: Is he richest actor of The Office?

September 20, 2023
How to Remove Weather From Taskbar?

How to Remove Weather From Taskbar?

January 12, 2023
Alvin Louise Martin

Alvin Louise Martin: Everything you need to know about Whoopie Goldberg’s ex-husband. Where is he now? 

June 1, 2022

EDITOR'S PICK

दिल्ली : सिंघु बॉर्डर पर बवाल के मामले में पुलिस ने दंगा का केस दर्ज किया

दिल्ली : सिंघु बॉर्डर पर बवाल के मामले में पुलिस ने दंगा का केस दर्ज किया

November 30, 2020
United Nations rejects Iran arms embargo extension, crisis looms

United Nations rejects Iran arms embargo extension, crisis looms

August 15, 2020
‘Either I take fifers or I get dropped’: R Ashwin opens up on lows and highs of Test career

‘Either I take fifers or I get dropped’: R Ashwin opens up on lows and highs of Test career

July 28, 2020
Bell-free school to global citizenship curriculum: National award winning teachers’ innovative ideas

Bell-free school to global citizenship curriculum: National award winning teachers’ innovative ideas

September 5, 2020

About

newslivenation.in


newslivenation.in is an open platform for people who loves to read and write. You can gather information or share your views in your words here. We will always be happy to provide the most recent facts, technological news etc. Happy reading!

Follow us

Entertainment

Pope Francis Net Worth (2023): Journey, Achievements, and More

September 21, 2023
Insurance

Senior Citizens’ Guide to International Travel Insurance

September 18, 2023
animal

How to Get Rid of Ground Squirrels (2023): Everything You Need to Know

September 20, 2023

Pope Francis Net Worth (2023): Journey, Achievements, and More

  • Contact us
  • Privacy Policy
  • Sitemap
  • Disclaimer

Copyright © 2023 All Rights Reserved | Powered by Newslivenation

No Result
View All Result
  • News
  • Politics
  • National
  • Business
  • Finance
  • World
  • Entertainment
  • Fashion
  • Food
  • Health
  • Lifestyle
  • Opinion
  • Science
  • Tech
  • Travel

Copyright © 2023 All Rights Reserved | Powered by Newslivenation

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In