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Economics

Chile Ready to Step Up Social Aid Ahead of Recovery, Marcel Says

  • Finance Minister Marcel speaks in interview in Washington
  • Central bank sees several quarters of shrinking economy
Mario Marcel, Chile’s finance minister, during an event in Santiago, Chile, on Friday, Aug. 19, 2022. 
Mario Marcel, Chile’s finance minister, during an event in Santiago, Chile, on Friday, Aug. 19, 2022. Photographer: Cristobal Olivares/Bloomberg

Chile’s government is preparing measures to boost productivity and stands ready to step up aid to the poor ahead of an economic recovery that won’t kick in before May of next year, the nation’s finance minister said in an interview.

“We are going to keep on working to get ahead of particularly tough times for families with fewer resources,” Mario Marcel, said on Friday while in Washington for the World Bank and International Monetary Fund annual meetings. “We have the willingness and, within our budget, the ability to reassign and mobilize resources in that regard.”