Chilean Cabinet Reshuffle With Troubled Economy

Economist Rodrigo Valdes was named as Chile's finance minister on Monday by President Michelle Bachelet, in a sweeping cabinet reshuffle in which four of her closest ministers were sacked or shifted into other roles.
On Valdes' immediate to-do list is an upcoming $1.26 billion international debt issue.
Although some changes were expected a year into Bachelet's second term, it is the first time since Chile returned to democracy in 1990 that the finance minister has been dismissed mid-term.
The appointments follow financial scandals, a slowing economy and disillusion with the pace and content of reforms that have eroded Bachelet's popularity in recent polls.
However, he is not expected to make significant adjustments to Bachelet's ambitious tax-and-spend reform agenda.



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