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The capital transfer will be finalized by February 2019, which is the deadline established by Law 20,790. 

• The placement was made on  peso bonds maturing in 2023 and 2030. CLP$ 440,000 million (approximately US$681 million) were allocated for the 2023 Bond and CLP$ 610,000 million (approximately US$944 million) for the 2030 Bond.
• The yield rate was 4.12% for the bond maturing in 2023, and 4.85% for the bond maturing in 2030.
• Foreign investors were able to participate directly and simultaneously with local investors. Foreign investors made up 10% of the total bonds placed.

To converge to this goal, the deficit will be reduced annually by 0.2 percentage points of GDP, starting in 2018.

The authority also informed the composition of the Council that will continue operating under the current institutional framework, until the bill that enters Congress today is approved. The Council will be led by the renowned economist Klaus Schmidt-Hebbel.

• The Ministry of Finance reports that in 2016, the Republic of Chile will issue Treasury bonds in the local market for an amount of up to US$8 billion, implementing at the same time an exchange program of local securities.

• In reviewing the past year, the Finance Minister pointed out that the goal of quickly clearing up the uncertainty surrounding the changes to the tax system had been accomplished through an expeditious and efficient process for legislating the Tax Reform.
• He highlighted the government’s decisive countercyclical fiscal policy, with measures to stimulate private investment through the expansion of public investment, in order to foster growth.
• The Ministry accomplished 100% of the measures under its responsibility in the first 100 days and won the approval of ten draft bills sent by this government, as well as three more from the previous administration.