Markets applaud Chile's election results

Markets applaud Chile's election results

Capital Markets Corporate & Sovereign Strategy Economy & Policy Politics Features Chile

Chileans had expected a close finish. In the end, it was a landslide. On December 17, Sebastián Piñera was elected president of Chile with 54.6% of the vote, easily beating Senator Alejandro Guillier, the candidate of the fractured government coalition. Although Piñera had been the favorite since the start of the year, campaigning on a promise to reinject badly needed dynamism into the country’s sluggish economy, the results of the first round of voting in November had shocked supporters and pundits alike. Piñera obtained just 36% of the vote in the first round, much less than the 44% predicted by the polls and well below the majority needed to prevent a runoff vote. Left-wing journalist

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