CHILE MEDIA REPORT - MARCH 24

UNCLAS SANTIAGO 000281 SIPDIS STATE FOR R/MR, I/PP, WHA/BSC, WHA/PDA, INR/IAA E.O. 12958: N/A TAGS: KMDR KPAO PGOV ECON PREL SNAR EFIN CI SUBJECT: CHILE MEDIA REPORT - MARCH 24 Leading Stories -------------- ¶1. Stock markets worldwide reacted positively to President Obama's new financial plan. Dailies also reported on the seizure of more than a ton of the chemical ephedrine in an operation to dismantle a narcotics operation tied to Mexico. Chile's Rating Upgraded -------------- ¶2. Moody's raised Chile's foreign debt rating from A2 to A1, with a "positive outlook." According to Moody's, the improved rating reflects "a greater resistance of Chile's economy to extern shocks, as a result of robust policies a solid fiscal balance." Chile's "favorable loan profile benefits from an economic policy framework designed to mitigate marcro-economic volatility, which is a condition especially relevant given the current global situation," said the ratings agency (Diario Financiero, business and financial, circ. 30,000, 3/24). Mexican Drug Traffickers -------------- ¶3. The investigations police (PDI) and the Metropolitan Prosecutor's Office conducted an operation that culminated yesterday with the largest seizure ever of an ephedrine cargo in Chile: 1 ton of the chemical in Santiago and another 75 kilos in the Fifth Region. The chemical is used to manufacture methamphetamine and was en route to Mexico (All dailies, 3/24). SIMONS