Chile:2022 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Chile

Author: International Monetary Fund. Western Hemisphere Dept.

Chile: 2022 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Chile

Volume/Issue: Volume 2023 Issue 036

Publication date: January 2023

ISBN: 9798400230202

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , International - Economics , draft mining royalty bill , inflation expectation , liability positions vis-à-vis nonresident , Senate's finance committee , finance committee of the Senate , Inflation , Fiscal stance , Pension spending , Exchange rate flexibility , Global , Caribbean , Western Hemisphere , South America

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Summary

After an impressive recovery from the COVID-19 pandemic, the Chilean economy is undergoing a necessary transition towards sustainable growth amid a challenging external environment. Policy implementation remains very strong, geared towards correcting macroeconomic imbalances that built up during the pandemic while protecting the most vulnerable and advancing structural reforms, consistent with past Fund Advice (Annex I). On August 29, the IMF Executive Board approved a two-year Flexible Credit Line (FCL) arrangement for Chile in the amount of SDR 13.954 billion (800 percent of quota) to augment precautionary buffers and provide substantial insurance against adverse scenarios.