Country Insights

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Boric wins. What now?
CHILE - In Brief 19 Dec 2021
Gabriel Boric’s victory in Sunday’s run-off election is an amazing political and personal story, from the time he emerged a as a student leader over ten years ago, to his surprise win in his coalition’s primaries last July. And now, at 35 years of age, with the largest amount of votes any winner ...

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Election Day minus two
CHILE - Report 17 Dec 2021 2 responses
This Sunday’s runoff presidential vote Chile will close a long electoral year, after having elected, over the course of 2021, a constitutional convention, local and regional governments, primary contenders, deputies and senators, and presidential candidates. Now it’s down to just two, José Antoni...

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Webinar replay: Chile post election briefing
CHILE - Report 26 Nov 2021
Visit our calendar page to watch the replay of Dr. Robert Funk discussing the impact and implications of Chile's November 2021 elections.

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Chile: Piñera Impeached
CHILE - In Brief 09 Nov 2021
As if a Social Explosion, a pandemic, a constitutional convention and a general election weren’t enough, Chile has now added presidential impeachment to the mix, as the House of Deputies voted early Tuesday morning in favor of a ‘Constitutional Accusation’, or impeachment, of Sebastián Piñera. Ac...

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Chile: Boric has Covid and the campaign is on hold
CHILE - In Brief 04 Nov 2021 1 response
With just under three weeks to go until the upcoming presidential elections in Chile, public opinion polls have begun to show that Gabriel Boric (Apruebo Dignidad) and José Antonio Kast (Republican Party) will like move on to the December runoff vote, with Boric the likely winner. But on Tuesday ...

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Volatility is everywhere
CHILE - Report 20 Oct 2021 1 response
The Monthly Index of Economic Activity (IMACEC) in August again surprised on the upside. We are facing a level of activity unlikely to be sustainable in the long term, and which will continue to exert inflationary pressures. Consumption has played a central role in increasing demand, as a result ...

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The politics of the fourth withdrawal
CHILE - Report 04 Oct 2021 2 responses
This week the discussion of the bill enabling a fourth withdrawal of up to 10% of private pension funds moves on to the Senate, having been approved by the lower house. Most observers believe the bill will be rejected in the Senate. Our calculations indicate that, on paper, the bill is four or fi...

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The Center-Left’s “Consultation”
CHILE - Report 23 Aug 2021 1 response
Yasna Provoste, the Christian Democratic president of the Chilean Senate, has won the Unidad Constituyente (UC, or Constituent Unity) primaries, held on Saturday. The Chilean presidential election is now essentially a four-horse race, representing the far left, far right, center left and center r...

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Economic recovery in times of political uncertainty
CHILE - Report 27 Jul 2021
After falling for two consecutive months, in May the monthly variation of the seasonally-adjusted IMACEC was 2.6%, its largest since September 2020. The economy completely reversed the negative shocks of March and April. The detail by sectors shows diverging movements, underscoring the relevance ...

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Webinar: Chile Political Update
CHILE - Report 23 Jul 2021
Watch the replay of our "Chile: Political Update​" webinar featuring Dr. Robert Funk. Following upsets in Chile's primaries, Dr. Funk discusses the primary results and their impact on the upcoming elections, the ongoing constitutional process, and the road ahead for Chile. The replay is availa...

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Chile's Presidential Primaries
CHILE - In Brief 19 Jul 2021
Chile held presidential primaries on Sunday, with the participation of two main political agglomerations: Chile Vamos, made up of the two traditional parties of the right, National Renovation and UDI, and Apruebo Dignidad, composed of the Communist Party and the Frente Amplio (Broad Front). A bit...

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Fiscal stimulus, monetary stimulus and a game of chicken
CHILE - Report 24 Jun 2021
The economic recovery that started in July 2020 was interrupted in late March 2021 by a resurgence of the contagion, and the re-imposition of mobility restrictions. April’s Monthly Index of Economic Activity (IMACEC) fell by less than expected, and considering that national mobility increased in ...

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October 19, the sequel
CHILE - Report 17 May 2021 3 responses
Almost nineteen months after Chile’s main political forces agreed that the path towards a new constitution was a way out of the violence and protest that gripped the country, after a pandemic, and a delayed referendum and yet another delay, Chileans finally got down to the task of electing the me...

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The second wave
CHILE - Report 27 Apr 2021
February’s IMACEC was positive. The 12-month variation of the seasonally-adjusted non-mining IMACEC increased from -0.1% in January to 0.7%, which implies a return to pre-pandemic levels. In both March and April, economic activity likely fell, due to the return of quarantines. The hope is that th...

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Chile: The electoral calendar gets Covid
CHILE - In Brief 29 Mar 2021
Although Chile is one of the world’s top countries in terms of vaccination, with almost 40% of the population having received at least one dose, the country is in the midst of a second wave of Covid-19 infections. This has led to increasing pressure to reconsider holding the mega-election (for ma...