Chile:Request for an Arrangement Under the Flexible Credit Line and Cancellation of the Arrangement Under the Short-term Liquidity Line-Press Release; Staff Report; Staff Supplement and Statement by the Executive Director for Chile

Request for an Arrangement Under the Flexible Credit Line and Cancellation of the Arrangement Under the Short-term Liquidity Line-Press Release; Staff Report; Staff Supplement and Statement by the Executive Director for Chile

Volume/Issue: Volume 2022 Issue 283

Publication date: August 2022

ISBN: 9798400218569

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Money and Monetary Policy , Public Finance , International - Economics , FCL arrangement , Chilean authorities , fund credit , Gra credit exposure , FX market dynamics , Peak fund Exposure , IMF's transparency policy , Debt service , Credit , Global

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Summary

After an impressive recovery from the fallout of the Covid-19 pandemic, the Chilean economy is confronting an acute deterioration of the external environment. Downside risks have materialized, including a tightening of global financial conditions, a slowdown in global growth, and a substantial drop in Chile’s terms of trade. Domestic economic policies are appropriately being recalibrated to mitigate risks and preserve macroeconomic stability, while supporting vulnerable groups. The authorities will continue leveraging on Chile’s very strong fundamentals and policy frameworks to implement an ambitious reform agenda in a challenging external environment.