Change in Chile

Press, Volume CXV, Issue 33819, 16 April 1975, Page 22

Change in Chile

(N.Z.P.A.-Reuter—Copyright) SANTIAGO, April 15. President Pinochet of Chile has handed seven portfolios to civilians in [a Cabinet reshuffle aimed at pulling the country out of its serious economic troubles.

In the first notable Government change since the military seized power from the

• late Marxist President, Dr [Salvador Allende, General Pinochet has appointed five [new Ministers. The old Cabinet, comprising 17 military men and three civilians, resigned on Wednesday to give the President a free hand to tackle the country’s difficulties. An economist, Mr Sergio Castro, takes over the MinisI try of Economy from Colonel Fernando Leniz, who man- [ aged the country’s sudden ' change from State socialism to Free capitalism after the coup d’etat of September, 1973. Both the Minister of Finance (Mr Jorge Cauas) and the Minister of Economic Coordination (Mr Raul Saez) retain their portfolios, becoming super-Ministers with , unprecedented powers over the economy. This means that three civilians will have the task of holding back inflation, now running at 60 per cent, redressing the loss of exporti earnings because of a down-i fall in the price of copper,! and helping in the search for badly-needed foreign credits.