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Hacienda To Sell Dollars, Chile Financial Markets Closed For Holiday

CHILE
  • Chile’s Finance Ministry plans to sell as much as $5b in excess liquidity in foreign currency, according to a statement sent by text message.
    • Plans to auction as much as $200m per day.
    • “Due to the fact that a sufficient amount of dollars is kept in fiscal cash to finance all budgetary requirements during this fiscal year, the Ministry of Finance has decided to liquidate the surplus in foreign currency”.
  • President Boric’s Approval Rating Continues To Fall
  • Latest polling from Activa shows the approval rating of President Gabriel Boric continuing to fall amidst tough economic conditions and a soaring crimewave that has hit the Latin American nation.
    • Activa/Pulso Ciudadano poll: Approval rate of the government of Gabriel Boric (CS,) Approve: 24.3% (-8.5), Disapprove: 56.4% (+6.1), Don't know: 19.3% (+2.4) (+/- vs. 6-10 Jun) Fieldwork: 20-24 June 2022. Sample size: 1,005
  • Boric's falling approval ratings has become tied to support (or lack thereof) for the new Chilean constitution proposed by the Constitutional Convention. With the referendum on the constitution coming on 4 September, the administration (which supports the new constitution) will have its work cut out in convincing Chileans to support the changes, no matter their opinion's on President Boric's leadership.
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  • Chile’s Finance Ministry plans to sell as much as $5b in excess liquidity in foreign currency, according to a statement sent by text message.
    • Plans to auction as much as $200m per day.
    • “Due to the fact that a sufficient amount of dollars is kept in fiscal cash to finance all budgetary requirements during this fiscal year, the Ministry of Finance has decided to liquidate the surplus in foreign currency”.
  • President Boric’s Approval Rating Continues To Fall
  • Latest polling from Activa shows the approval rating of President Gabriel Boric continuing to fall amidst tough economic conditions and a soaring crimewave that has hit the Latin American nation.
    • Activa/Pulso Ciudadano poll: Approval rate of the government of Gabriel Boric (CS,) Approve: 24.3% (-8.5), Disapprove: 56.4% (+6.1), Don't know: 19.3% (+2.4) (+/- vs. 6-10 Jun) Fieldwork: 20-24 June 2022. Sample size: 1,005
  • Boric's falling approval ratings has become tied to support (or lack thereof) for the new Chilean constitution proposed by the Constitutional Convention. With the referendum on the constitution coming on 4 September, the administration (which supports the new constitution) will have its work cut out in convincing Chileans to support the changes, no matter their opinion's on President Boric's leadership.