Chile billionaire wins presidency, ousts left

Airline magnate Sebastian Pinera won around 52 percent of  yesterday’s vote with more than 60 percent of ballots counted, and  his leftist rival, former President Eduardo Frei, quickly  conceded defeat.

The victory by Pinera, a Harvard-educated airline magnate,  marks a shift to the right in South America, a region dominated  by leftist rulers from Venezuela to Argentina, although no  major changes to economic policy are expected.

Many Chileans were disenchanted with the ruling centre-left  “Concertacion” coalition that has governed since the end of  Gen. Augusto Pinochet’s 1973-1990 dictatorship.

It was the first time that Chile’s political right, which  backed Pinochet, has democratically won the presidency for over  50 years.

Support for the leftist ruling coalition dwindled, with  voters saying it could have made better use of billions of  dollars in copper boom savings. There was also growing  frustration that an old guard has dominated politics in Chile,  also a major salmon, wine and fruit exporter.
“Better times are coming for Chile. There is a great new  phase on the way,” Pinera, who will take power in March, said  yesterday. “After 20 years I think a change will be good for  Chile. It’s like opening the windows of your home to let fresh  air come in.”

Chile, with a population of 16 million, has the highest  standard of living in Latin America, according to the Human  Development Index, which measures education, health, income and  other factors. But many voters said it was time for a change.

Pinera, 60, has vowed to give Chile’s state a business-like  overhaul to boost efficiency, promising to create a million  jobs and boost economic growth to average 6 percent a year. The  economy shrank in 2009, its first recession in a decade.

His critics say Pinera’s plan depends too heavily on the  private sector generating jobs and banks on a steady global  recovery maintaining copper demand. Pinera could also struggle  to push reforms through a divided Congress.

An extreme sports enthusiast who flies his own helicopter,  Pinera succeeded in distancing himself from the legacy of  Pinochet’s rule, when over 3,000 people were killed or  “disappeared” and around 28,000 were tortured.