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Analysis & opinionSeptember 1 2017

Rodrigo Valdes: copper's bottom will not shake Chile

Chile has suffered an economic slowdown in the past few years as the price of its main export, copper, tumbled. However, efforts to diversify investment and increase competition are paying off. Now the country must leverage its reputation for stability and hold a steady fiscal course amid political elections in order to continue its hard-won progress, writes the country's finance minister. 
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Chile continues to be a leader in Latin America. In the past 25 years we have successfully integrated into the world economy, reached a public-private partnership adjusted per capita gross domestic product (GDP) of $23,000, the highest in the region. We have decreased our poverty rate and made progress in income distribution.

We have become a globalised economy, with a wide network of trade agreements: 25 free-trade agreements with 64 countries, accounting for 94% of Chile’s exports, and more than 60% of our GDP is linked to trade. Chile’s long-standing political and economic stability, transparency and competitiveness, as well as its dynamic business community, have made the country an excellent destination for foreign investment.

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Silvia Pavoni is editor in chief of The Banker. Silvia also serves as an advisory board member for the Women of the Future Programme and for the European Risk Management Council, and is part of the London council of non-profit WILL, Women in Leadership in Latin America. In 2019, she was awarded an honorary fellowship by City University of London.
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