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Next President to Face Policy Implementation Challenges - Fitch

CHILE
  • The choice of Chile’s next President will be significant for economic and social policy direction given the two candidates’ divergent views, Fitch Ratings says. Relations with the new Congress will be pivotal to implementing their agenda, while the Constituent Assembly could also affect governability and policy settings.
  • "Policy implications will also depend on the next President’s ability to implement their agenda. This suffered under outgoing centre-right President Sebastián Piñera due to clashes with a leftist Congress, which could override presidential vetoes. But the even split between left- and right-wing groups in the new Senate means either candidate may have to seek compromises to pass legislation, especially for measures that need a majority of at least 60% (as with 2020-2021’s pension fund withdrawals). Kast would have to work with a potentially hostile lower house. "
  • "Managing relations with the Constituent Assembly, which recently began debating potential changes to the constitution, could also absorb time and political capital, particularly if Kast is elected given the Assembly’s large cohort of left-leaning and independent members."
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