Pyongyang, November 9 (KCNA) -- Chilean President Sebastian Pinera said Friday his country is ready to face a possible world recession.

"Unfortunately, the world economy is not working well, but Chile is well prepared and ready to face the hard times that may come," Pinera told reporters in the Chilean capital.

He said the Chilean government will take special measures to face a possible world recession or any other adverse effects of the lingering uncertainty over the U.S. economic uncertainties and European debt crisis.