March 27, 2019 |
In 2012, Chile achieved a remarkable feat for a Latin American sovereign issuer. It sold $1.5 billion in dollar-denominated bonds, locking in what at the time was the lowest borrowing costs ever for a Latin American country. Chile Finance Minister Felipe Larraín remembers the bond sale. It occurred during his first stint as the steward of the region’s most stable economy. He took the reins again in 2018 when Sebastian Piñera returned to Chile’s presidency.
During Piñera’s first time in office, he oversaw economic growth that averaged 5.3% a year from 2010 to 2014, helped by high commodity prices for Chile’s main export, copper, and a massive rebuilding effort after a devastating earthquake
As he focuses on reducing his country's debt, Chile's finance minister worries about the economic fallout from the US-China trade dispute