{
  "title": "Chile: 2009 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Chile",
  "publication": "IMF Staff Country Reports, September 9, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/chile-2009-article-iv-consultation-staff-report-staff-statement-and-supplement-public-23262",
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  "summary": "This 2009 Article IV Consultation highlights that the Chilean economy has proved resilient in the face of the global financial crisis. The policy response to the crisis has been sizable, well balanced, and coordinated.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Publication date: September 9, 2009\n- Core message: The Chilean economy proved resilient in the face of the global financial crisis.\n- Policy response characterization: sizable, well balanced, and coordinated.\n- Executive Directors' appraisal: commended the Chilean authorities for a sound policy framework and endorsed the Central Bank of Chile’s decision to implement alternative means of monetary easing to support activity and a return of inflation to the target."
    },
    {
      "heading": "Key Findings and Assessments",
      "content": "- Resilience:\n  - The Chilean economy has proved resilient in the face of the global financial crisis.\n- Policy response:\n  - The policy response to the crisis has been sizable, well balanced, and coordinated.\n- Institutional strengths:\n  - Sound policy framework underpinned by an inflation target regime, a structural budget rule, and a flexible exchange rate regime.\n- Monetary policy:\n  - Directors endorsed the Central Bank of Chile’s decision to implement alternative means of monetary easing to support activity and a return of inflation to the target."
    },
    {
      "heading": "Subject Coverage and Keywords",
      "content": "- Subject areas: Banking, Central bank policy rate, Credit, External debt, Financial services, Fiscal policy, Money, Public debt\n- Keywords: BCCh, Central bank policy rate, central bank recapitalization, CR, Credit, Global, ISCR, liability positions vis-à-vis nonresident, policy, policy meeting, rate, staff appraisal, superintendency of bank\n\n---\n\n Content in this bundle\n\n- Cr09271\n  - Cr09271 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cr09271 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 9, 2009",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451807691.002",
    "Publication date: September 9, 2009",
    "Core message: The Chilean economy proved resilient in the face of the global financial crisis.",
    "Policy response characterization: sizable, well balanced, and coordinated.",
    "Executive Directors' appraisal: commended the Chilean authorities for a sound policy framework and endorsed the Central Bank of Chile’s decision to implement alternative means of monetary easing to support activity and a return of inflation to the target.",
    "Resilience:",
    "Policy response:",
    "Institutional strengths:",
    "Monetary policy:",
    "Subject areas: Banking, Central bank policy rate, Credit, External debt, Financial services, Fiscal policy, Money, Public debt",
    "Keywords: BCCh, Central bank policy rate, central bank recapitalization, CR, Credit, Global, ISCR, liability positions vis-à-vis nonresident, policy, policy meeting, rate, staff appraisal, superintendency of bank",
    "**Cr09271**"
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