Chile’s U.S.-educated finance minister, Andres Velasco, was a Harvard professor before President Michelle Bachelet appointed him to her cabinet in 2006. Lately, his financial stewardship has helped create a significant surplus for Chile, which has stockpiled some of the huge revenues generated by copper exports.
Worldfocus correspondent Edie Magnus and producer Ara Ayer interviewed Velasco in Santiago in July. His interview will be featured in several Worldfocus stories on Chile, including Chile squirrels away copper fortunes and spends prudently. This is part of our ongoing series looking at how other nations tackle complex policy issues.
In this wide-ranging discussion, Velasco speaks about Chile’s privatization of social security, its past and present economic policy, and the lessons advisors have learned from economic cycles of the past.
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