Chile’s Finance Ministry was ranked the best in Latin America in 2010-2011 by the prestigious magazine LatinFinance, published in the United States.
The study looked closely at 14 such ministries throughout the region, placing Colombia’s Ministry of Finance and Public Credit in second, and Peru’s Ministry of the Economy and Finance in third.
Based in New York and Miami, the magazine has a network of correspondents throughout the region, and has been covering debt, equity, loans, and of course finance for 20 years. An important resource for politicians, bankers, analysts and lay readers alike, the magazine provides up to do date information on financial institutions throughout the region.
The magazine highlighted the Chilean Ministry’s design and implementation of innovative collection strategies and a clear plan for economic recovery.
Chile’s recovery from the global financial crisis has been marked by growth rates averaging between five and seven percent, with industrial increases in many of the country’s key industries, like mining, forestry and aquaculture. Increasingly globalized in its industries and trade partners, Chile has also been increasing ties with trading partners, particularly in the Americas, Western Europe, and China.
The quick rebound from the global recession compounded with political and social stability has made Chile an ascendant destination for foreign investment as well. According to Aon Corporation’s annual political risk map, Chile is the only nation in Latin America with low risk levels for foreign investment.