Chile Votes on Constitution That Would Propel Leftist Shift
- Proposed charter would overhaul politics, economic rules
- Assets seen rallying if charter is rejected, as polls indicate
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Chileans have finished voting in a referendum on a new constitution that prioritizes social rights and the environment, potentially steering a global investor favorite further away from its pro-market ethos.
Voters had to choose whether to approve or reject the proposed charter written by a left-leaning Constitutional Convention, thus either replacing or keeping the basic laws enacted during the 1973-1990 dictatorship. Polls indicate the new constitution will have been shot down, though Sunday’s ballot was obligatory for the first time in over a decade, meaning that uncertainty is running high as votes are counted.