Residents, waiting to watch the inauguration of President-elect Sebastian Pinera, run to higher ground as a strong aftershock of 7.2 shook the region a few minutes before the inauguration's start outside Congress in Valparaiso March 11, 2010.
Residents run to higher ground as a strong aftershock of 7.2 shook the region in Valparaiso March 11, 2010.
Residents, waiting to watch the inauguration of President-elect Sebastian Pinera, run to higher ground as a strong aftershock of 7.2 shook the region a few minutes before the inauguration's start outside Congress in Valparaiso March 11, 2010.
Chile's President Sebastian Pinera throws flowers into the river Maule in honor of earthquake victimsin Constitucion, Chile, Thursday, March 11, 2010
Sebastian Pinera (2nd R, Front) waves to audience at the Congress house in Valparaiso, Chile, on March 11, 2010. Sebastian Pinera was sworn in as earthquake-stricken Chile's new president during an austere ceremony on Thursday.
On his first full day in office Chile's President Sebastian Pinera said on Friday the country will use loans, savings and budget austerity to finance reconstruction from a massive Feb. 27 earthquake.
The quake caused an estimated $30 billion in damage to infrastructure, homes and industry, Pinera told reporters in a news conference
New Chilean President Sebastian Pinera on Thursday visited the city of Rancagua, epicenter of Thursday's earthquake, and Constitucion, which was devastated by the 8.8-magnitude earthquake that on Feb. 27.
Pinera, who was sworn in on Thursday, called on the people to stay calm. "The government is going to act always in time and with prevention measures toward situations of catastrophe like the ones we have known, as a way to guarantee in first place to save all the lives we could save and to reach in time and deliver the aid for the people in need," Pinera said.
Chile's President Sebastian Pinera declared a state of catastrophe for central region O' Higgins on Thursday, less than two hours after taking office, after a series of strong aftershocks hit the region.
"Our emergency teams are already on their way to Rancagua," the capital of O'Higgins, Pinera told media from Valparaiso, just after taking office at the Congress. "This government will not hesitate to take the measures needed," he added
Chile's new billionaire President Sebastian Pinera was sworn in on Thursday, as strong aftershocks complicated relief efforts on the 8.8-magnitude quake.
President Michelle Bachelet placed the presidential sash on Pinera's shoulders shortly after midday in Chile's central city of Valparaiso.
The ceremony was briefly delayed by the biggest aftershock measuring 7.2 on the Richter scale since the Feb. 27 earthquake.
The aftershock, with its epicenter in Rancagua city, some 150 km south of the capital Santiago, had prompted a tsunami warning. The government later lifted the alert after ruling out possible high waves on its central and southern coast.
Pinera is faced with a tough challenge to rebuild the country after the devastating quake that killed more than 500 people and left around 500,000 homeless.
Pinera's team had estimated that Chile needs 30 billion U.S. dollars to recover from the Feb. 27 quake and the aftershocks. Pinera made his first journey as president to quake-affected regions on Thursday.
In Constitucion, a town of 60,000 inhabitants and most affected by the quake, Pinera said his government will work day and night to tide over the emergency.
"The challenge is very big... We will have to work together," Pinera said.
Immediately after the inauguration, Pinera swore in a 22-member cabinet. The first measure of Pinera's government was the delivery of a subsidy of 80 U.S. dollars to each of the poorest 4.2 million victims.
Pinera also announced changes in the 2010 budget to give more importance to relief efforts.
Thanks to the preparedness of the South American country against earthquakes, the damage has been modest considering the magnitude of the quake.
Chile was frequented by major earthquakes in history. The world's strongest quake ever recorded, which measured 9.5 on the Richter scale, occurred in southern Chile in 1960.
Chile's buildings have strict construction codes and most of the cities close to the epicenter of the latest quake reported few building collapses, though power and sanitation services were interrupted.
Meanwhile, its two pillar industries -- copper mining and financial services -- saw little damage.
Chile has a tradition of frugality in its government. It has 11 billion dollars saved in a fund established in times when copper prices were high.
Citizens in less affected regions are also ready to help. A telethon at the weekend raised close to 60 million dollars, and the money will be used to build shelters for the displaced people.
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