Solid Fundamentals

Since 1990, Chile has implemented public policies to foster and consolidate serious and responsible macroeconomic management, greater economic openness and international integration, solid institutions and a fairer society in which all citizens can enjoy the benefits of economic development.

Economic growth has been accompanied by a sharp drop in public debt, the stabilization of the country’s external accounts and an increase in its international reserves. Chile has, in other words, given clear proof of its commitment to serious and responsible economic management.

These attractive advantages are further reinforced by the existence of an open economy that has meant greater competitiveness, growing international trade and rapid integration into world markets. In addition, Chile’s modern telecommunications systems, its well-capitalized and internationally competitive banking sector, its world-class public infrastructure, its high-quality services and the ready availability of skilled workers are key factors that cause a favorable impression among foreign investors.

International Integration

In 2007, Chile’s most important exports were copper, molybdenum, wood pulp, salmon, wine, sawn wood, grapes, gold and methanol. Together these products accounted for 76.7% of total exports.

Country Risk Assessment Agencies

In May 2008, Fitch Ratings ratified Chile’s long-term foreign-currency sovereign rating, maintaining it at A. Two years earlier, the agency had raised the rating from A-, putting Chile on a par with countries that include Greece and Slovakia. It attributed the ratification to Chile’s low level of public debt, its sound and widely-supported macroeconomic policies, the integrity of its institutions and the health of its financial system.

According to the 2008 Risk Ranking, published by the Economist Intelligence Unit (EIU), Chile is one of the world’s lowest-risk countries. The EIU’s country-risk ratings, which include 150 economies, take account of indicators of political stability, regulatory, tax, labor and macroeconomic factors and other measures of credit quality.

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