IMF and World Bank release report praising Chile's financial sector management

As a response to a request from Chile's Treasury Ministry and the Central Bank, the World Bank and the International Monetary Fund (IMF) released a report on Chile's management of its financial institutions and markets on 6 December 2016. The report concluded Chile has a robust financial infrastructure, in line with international best practices and risk management standards. Chile's regulatory and supervisory environment were also praised, and the report explained they have sufficient power to make adjustments to the system as needed. However, specific weaknesses were pointed out that may require legislative changes (La Tercera). Treasury Minister Rodrigo Valdés expressed his team's commitment to continuous improvement and early detection of problems, while Central Bank President Rodrigo Vergara stated the report's positive conclusions contribute to maintaining Chile's international prestige as a solid financial market (Emol).