Chile: 2013 Article IV Consultation

International Monetary Fund

No 2013/198, IMF Staff Country Reports from International Monetary Fund

Abstract: The staff reports for the 2013 Article IV Consultation on the Chile discuss the strong and inclusive growth over the medium term. Technocratic, rules-based, and transparent policy management; monetary policy under a floating exchange rate undertaken by a credible central bank; and prudent fiscal policy, since 2001 under a near-legendary fiscal rule, has enhanced policy clarity, reinforced Chile’s resilience to shocks, and allowed for vigorous policy responses when needed, as after the global financial crisis and the earthquake. The widening current account deficit and the increased reliance on debt financing have increased balance of payments stability risks and Chile’s exposure to sudden stops.

Keywords: ISCR; CR; current account; holding; SDR Department; widening current account deficit; liability positions vis-à-vis nonresident; fiscal policy; budgetary funds; foreign direct investment; copper price; ballooning current account deficit; capital investment; Metal prices; Current account deficits; Credit; Global (search for similar items in EconPapers)
Pages: 54
Date: 2013-07-08
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