March 10, 2010. Copyright 2010, Graphic News. All rights reserved

President Pinera prepares to rebuild Chile
By Joanna Griffin

LONDON, March 10, Graphic News:  His campaign rhetoric included pledges to remake Chile after 20 years of left-wing rule, but new president Sebastian Pinera could not have guessed that he would take the reins of a country in urgent need of reconstruction after being devastated by a huge earthquake.

Billionaire businessman Pinera must now abandon plans for an austerity drive in order to fund the rebuilding of Chile after the February 27 quake that killed up to 800 people and caused damage to ports, hospitals and roads estimated at between $15-30 billion. There will be no honeymoon period for a new leader whose every move will be scrutinised by a traumatised nation.
 
But Pinera, a well known economist who made his fortune by introducing credit cards to Chile, has made a characteristically confident start, insisting he’ll stick to a promise to return the economy to 6% growth a year. It can’t hurt him either that her slow response to the quake has dented the immense popularity of outgoing president Michelle Bachelet. 

Born on December 1, 1949, Pinera gained a PhD in economics at Harvard and taught for many years before serving as a senator from 1990-98. He has had his eye on the presidency for some time: a 1992 attempt to become his party’s candidate was derailed by a wiretapping scandal, and in 2006 he was narrowly beaten in the run-off by Bachelet.

His victory makes him Chile’s first democratically elected conservative leader for more than half a century, overcoming the climate of fear that has persisted since the brutal rule of General Augusto Pinochet: opposition attempts to raise the ghost of Pinochet came to naught as did complaints from hardliners about Pinera’s opposition to the dictator. It remains to be seen whether he will be able to keep Pinochet henchmen out of top cabinet jobs, and continue a high-level enquiry into human rights abuses during that era.

Pinera’s telegenic good looks, assertive manner and many business interests -- he owns a TV station and has big stakes in an airline and a soccer club among other investments -- have drawn comparisons with Italy’s Prime Minister Silvio Berlusconi, but any similarity is superficial. Father of four Pinera is a family man with an interest in social issues.

Chileans hope Pinera -- he has declared himself an “entrepreneurial president”-- can revive their country’s fortunes with his economic know-how. His plans include privatising 20% of Codelco, the world’s biggest copper producer, and investing more in small and medium-sized businesses. First, however, he must pick through the rubble.
/ENDS