IMF Staff Concludes Visit to Chile
IMF News, November 23, 2021
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Bibliographic details
- Published: November 23, 2021
Mission overview and timeline
- Press Release No. 21/343; November 23, 2021.
- IMF staff mission led by Ana Corbacho conducted a (virtual) visit to Chile during November 15–19, 2021; the IMF completed the visit on November 19.
- The visit was an end-of-mission staff statement conveying preliminary findings; this mission will not result in a Board discussion.
- The IMF engaged with Minister Cerda, Governor Marcel, Chairman Cortez, senior officials, analysts, and business representatives.
Economic assessment and recent developments
- The Chilean economy is recovering very fast from the Covid-19 pandemic.
- Growth has rebounded strongly and jobs are being created in many sectors.
- Nearly 85 percent of the total population has been fully vaccinated.
- Inflationary pressures are rising.
- The authorities are gradually removing macroeconomic stimulus.
Policy evaluation and recommendations
- The authorities implemented a wide-range of monetary, financial, and fiscal measures that helped mitigate the fallout of the Covid-19 shock.
- Given strong growth and rising inflationary pressures, the removal of macroeconomic stimulus being implemented by the authorities is appropriate.
- The IMF team recommends that the withdrawal of broad stimulus be accompanied by targeted support to the most vulnerable.
Engagement and next steps
- The IMF team thanked the authorities for engaging discussions and looks forward to continuing cooperation with Chile in the period ahead.
- The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board.
Contact
- IMF Communications Department, MEDIA RELATIONS
- PRESS OFFICER: Randa Elnagar
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- @IMFSpokesperson
IMF Staff Concludes Visit to Chile — Press Release No. 21/343; November 23, 2021.