CHILE
Analysts
Robert Funk
Former President, Political Science Association
Igal Magendzo
Former Manager of Macro Analysis, Central Bank
Andrés Velasco
Former Finance MinisterDatabanks
Recent Country Insights
Fuel Prices Increase
CHILE · In Brief · 24 Mar 2026
Yesterday, the government announced measures that will take effect this Thursday, March 26, increasing gasoline prices at the pump by 34% and diesel prices by 70%. The stated objective is to prevent a short-term decline in fiscal revenues resulting from the reduction in the specific fuel tax unde...
A government in a hurry; an economy in a daze
CHILE · Report · 24 Mar 2026
Growth close to its potential rate and a nearly balanced current account suggest that the Chilean economy is operating broadly in equilibrium. GDP rose 2.5% in 2025, above the preliminary 2.3% growth indicated by the Monthly Index of Economic Activity (IMACEC). The upside surprise was largely exp...
Kast’s Blast from the Past
CHILE · In Brief · 12 Mar 2026
José Antonio Kast has entered Chile’s presidential palace, becoming the first president since Carlos Ibañez del Camp, who left office in 1958, to make the Moneda palace the presidential residence. The move is meant to be a sign of austerity and offer the promise of hard work. Like much of Kast’s ...
The Chile-US Cable Spat
CHILE · In Brief · 24 Feb 2026
Chile-US relations were struck a firm blow last week when the United States revoked the visas of Chilean Transport and Telecommunications Minister Juan Carlos Muñoz and two other officials, accusing them of actions that could “compromise critical telecommunications infrastructure” and undermine r...
Monetary policy and the fiscal rule under strain
CHILE · Report · 17 Feb 2026
Activity continues sluggish. We therefore maintain our near-term interpretation of stable growth at close to potential, with a modest upside bias from improved sentiment. Business sentiment improved sharply in January 2026. But hard data released at the end of 2025 reinforces our cautious view. I...
Proceed with caution
CHILE · Report · 29 Jan 2026
The November Monthly Index of Economic Activity (IMACEC) confirmed that strength in October did not mark the start of a new trend. The pullback was broad-based, with commerce the lone exception, posting only a marginal gain. Our baseline for 2026 assumes GDP growth at slightly above 2%, broadly i...
Kast's Cabinet
CHILE · In Brief · 22 Jan 2026
On Wednesday José Antonio Kast has presented his first cabinet. Clearly it is a team designed not so much with politics in mind, but aimed at meeting the short-term policy objectives that the president-elect has announced. Even though the ideological shift will be evident, the question is whether...
A rare equilibrium
CHILE · Report · 30 Dec 2025
With the monetary policy rate now at 4.5%, a level we consider broadly neutral, indicators point to an economy operating close to equilibrium. The main risks remain external, and recent data are consistent with this view. Beyond monthly volatility, activity appears to be at a stable but sluggish ...
Webinar replay - Chile election briefing: The next administration
CHILE · Report · 16 Dec 2025
After the election of Chile's next president, what do the results reveal about the electorate? Which goals will the incoming administration prioritize? What challenges are ahead for the president-elect? Watch the replay of the final installment of our Chile Election Briefing webinar series fea...