Santiago’s Stock Exchange remains of good mood, decoupling from the rest of the world. This Thursday its main index, the IPSA, seeks to write down a new record, overcoming the 8,000 points in mid -morning, and chaining three consecutive days upwards.
But why does the Chilean bag go up so much? That was one of the questions answered by the former president of the Central Bank, Vittorio Corbo, within the framework of the XXIX economic Perspectives Seminar, De Sura Investments.
The first thing that the economist began pointing out is that today Chile internally has much less political and economic uncertainty than the world has, and what the country itself had a few years ago. “Given all the follies that we lived a few years ago with the first and second constitutional convention, there was a tremendous uncertainty. That today was left behind. In addition, the Chilean economy was recovering, ordering the fiscal and macroeconomic accounts,” he explained.
-Corbo said that “Chilean companies survived the social outbreak, the follies of conventions and today, in relative terms, Chile is a quiet economy with respect to what is happening in the rest of the world. The financial system has remained well regulated, well supervised, the Central Bank has made its paste.”
For all these reasons, he said that “Chile today is an oasis and people seek it as a refuge country. The Chileans are finding shelter here. Before they started correctly to redistribute their portfolio, because they had all the eggs in the same basket and that basket was in an area subject to tremors and earthquakes, which is what we lived at the beginning of the conventions.”
Instead, he said, now that internal noise scenario disappeared and uncertainty moved to the external, since Chile has not uploaded any tariff and has remained calm and expectantly to what happens in the world. “Chile has the great advantage of having ordered its fiscal and macro accounts. That has a tremendous asset. And the second is that the companies were very beaten by all the shocks they had before. Therefore, therefore, therefore, In relation to the world Chile looks calmer. The noise is outside, it is not internally. ”
