Archive

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.

• The dollar bond placement totaled US$ 1.060 billion, with a demand of US$ 3.732 billion, which implies a demand-supply ratio of 3.5 times.
• This operation included fresh resources of US$ 508 million and a repurchase of sovereign bonds of US$ 552 million.
• Alberto Arenas stated that in the context of the current market, the high demand and the rates applied confirm investors’ confidence in the future of Chile.

• These bonds are covered by the new Article 104 of the Chilean Income Tax Law, which governs the tax treatment of gains and losses from fixed-income instrument transactions.