Category: Chile

Privatized pension systems are a remarkable Latin American innovation. Chile led the way in 1980, replacing a government-run pension system with privately managed pension savings accounts. José Piñera, aged just […]

Corbo Takes Over In April, Chile’s Senate approved by a vote of 40 to 6 the government’s appointment of Vittorio Corbo as central bank governor. Corbo replaces Carlos Massad who […]

Enersis Restructures In May, Chilean power company Enersis and its subsidiary Endesa-Chile successfully restructured $2.33 billion in commercial bank debt with 32 banks. Enersis is majority-owned by the Spanish power […]

Nicolás Eyzaguirre, Chile’s finance minister, is a gifted amateur musician and a seriously orthodox economist. He also is living proof that a socialist can make free market economics work.

The privatization of retirement funds in Latin America has come up short. Except for in Chile, the pioneer of privately managed pension funds, governments are still grappling with huge fund deficits and unfunded liabilities.

Despite the financial turmoil spreading across South America, Chile remains an isalnd in the storm. The country has pragmatism inits blood and its finance minister, Nicolás Eyzaguirre, has maintained rigid control over national spending. His former counterpart in Peru (see “Politics Torpedoes Growth”) has had less success.

Anglo Buys Exxon’s Chilean Copper Mines Anglo American, the world’s largest precious-metals mining company, is spending $1.3 billion in cash to buy two Chilean copper mines from Exxon Mobil Corp. […]

SCH Merges Its Chilean Banks In April, Spain’s Santander Central Hispano secured full control of Banco Santiago and announced plans to merge it with Banco Santander Chile, its other Chilean […]

With its $650 million bond issue in October, the Chilean government sought to differentiate itself from other emerging market borrowers. In doing so, it became somewhat of an exception in the region.

Virtue is Its Own Reward Transparency International, the Berlin-based anti-corruption group, has unveiled its annual rankings of the world’s cleanest countries. Chile is again the least corrupt country in Latin […]