Chile Overview: Elections And Economy

It can be difficult for foreigners to find good information in English regarding upcoming elections in Chile and some of the main sectors that drive the economy. BNamericas has recently released a new report that outlines political risk in different Latin American countries. The aim of the report is to track and put into perspective all political news that impacts the real economy.

Below we have summarized some of the main points:

Chile is Latin America's most stable country, but is going through a challenging period marked by low growth and overwhelming disapproval of the current government of Michelle Bachelet. Presidential elections will be held on November 19. In the latest poll by local pollster Adimark, the right- leaningex-president Sebastian Piñera, 67, is in the lead, with 31% of respondents saying they would vote for him, followed by 64-year-old independent Alejandro Guiller, at 15%. Next is leftist Beatriz Sanchez, at 13%. In order to avoid a two-candidate runoff on December 17, the winning candidate would have to win more than 50% of the first-round vote, which at the moment appears unlikely. In Chile, presidents cannot run for consecutive terms, but can run again. If Piñera were to win, it would mean 16 years divided between him and current president Bachelet. Presidential Candidate Front Runners:

Sebastian Piñera:

Piñera is a billionaire businessman who served as president from 2010 to 2014 in what is largely considered a boom period in recent Chilean history. He was, of course,aided by record-high copper prices. It is also worth noting that while the country performed well, he had generally low approval ratings. He resoundingly won his Chile Vamos coalition's primary in early July, and has since shot up in the polls.

His platform includes:

An overhaul of tax policy to spur investment, GDP expansion and innovation, with the aim of "doubling growth." This includes a corporate tax rate "at average levels within the OECD." A revision of labor laws. A public-private infrastructure program worth US$20 billion over 8 years. A perfection of the private pension system while keeping it in place. The ex-president has also said he would look to dismantle the controversial Transantiago transport system. Alejandro Guillier

Alejandro Guillier is a left-leaning TV and radio journalist and current senator of Antofagasta who is running as an independent. He has lost a lot of ground in recent months in polling. His platform includes:

His...