Chile: Staff Report for the 2003 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 303

Publication date: September 2003

ISBN: 9781451807561

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , monetary policy , oil import , fiscal policy , core inflation measure , inflation rate , financial market condition , United States-Chile trade agreement , fiscal policies transparency , Fiscal stance , Exports , International reserves , Global , Asia and Pacific , Western Hemisphere

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Republic of Congo : 2001 Article IV

Summary

Chile has successfully resisted contagion from neighboring countries difficulties. Chile's inflation targeting framework has successfully anchored inflation expectations and increased the economy's resilience to external shocks while maintaining price stability. The floating exchange rate regime is an essential part of the macroeconomic policy framework and continues to serve Chile well. The interest in recapitalizing the central bank is welcomed. Executive Directors commend Chile for the transparency of monetary and fiscal policies. Chile faces the essential task of returning to sustained economic growth and relatively low unemployment.