Chile: Staff Report for the 2001 Article IV Consultation

International Monetary Fund

No 2001/116, IMF Staff Country Reports from International Monetary Fund

Abstract: Chile's economic performance was very strong during most of the 1990s, but the country suffered a recession in 1998–99. In early 1998, Chile faced a widening external current account deficit—resulting from surging domestic demand and a large drop in copper export prices—which together with turbulence in world financial markets weakened investor confidence and put downward pressure on the currency. Chile has maintained a very open trade regime and has continued with the unilateral phased reduction of its uniform external tariff rate.

Keywords: ISCR; CR; price; rate; monetary policy; currency risk; forecast; reference price; s forecast; U.S. dollar terms; oil price shock; prudent monetary policy; Fiscal stance; Metal prices; Public sector; Unemployment; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 57
Date: 2001-07-27
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