LatinNews Daily - 25 June 2025

*The International Monetary Fund (IMF) has stated that Chile could achieve higher growth by implementing structural reforms to improve investment efficiency, stimulate labour participation, and boost public-private research and development (R&D) collaboration. The IMF notes that Chile’s growth has been steadily declining since the 1990s, when it saw 6.2% per year growth on average. This compares with average growth of around 2% by the 2020s. To boost this growth, the IMF states Chile must reduce bureaucracy and make regulatory requirements more efficient, saying such issues provide barriers to the launching of mining projects and modernising of maritime transport for trade. It also suggests Chile improve access to quality childcare to allow more women to enter the labour force and therefore increase participation. Noting that Chile’s R&D spending is “substantially below” the average for Organisation for Economic Co-operation and Development (OECD) countries, the IMF said Chile must up public-private collaboration here, stating that the technology transfer bill, which was proposed in April 2024 and would enable university researchers to create technology companies and commercialise their work, could help narrow this gap. Finally, the IMF says Chile should capitalise on being the world’s largest copper producer, second largest lithium producer, and a nation “richly endowed with solar and wind resources”, to benefit from the high global demand for these critical minerals and through use of low-cost renewable energy.

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