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Chile: Staff Report for the 2009 Article IV Consultation—Informational Annex

Author(s):
International Monetary Fund
Published Date:
September 2009
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Appendix 1. Chile: Fund Relations

(As of May 31, 2009)

I. Membership Status: Joined: December 31, 1945; Article VIII

II. General Resources Account:

SDR MillionPercent Quota
Quota856.10100.00
Fund holdings of currency747.6987.34
Reserve Position108.4112.66
Holdings Exchange Rate

III. SDR Department:

SDR MillionPercent Allocation
Net cumulative allocation121.92100.00
Holdings36.7430.13

IV. Outstanding Purchases and Loans: None

V. Latest Financial Arrangements:

TypeDate of ArrangementExpiration DateAmount Approved (SDR Million)Amount Drawn (SDR Million)
Stand-ByNov 08, 1989Nov 07, 199064.0064.00
EFFAug 15, 1985Aug 14, 1989825.00806.25
Stand-ByJan 10, 1983Jan 09, 1985500.00500.00

VI. Projected Payments to Fund (in SDR Million)

Forthcoming
20092010201120122013
Principal
Charges/Interest0.190.400.400.400.40
Total0.190.400.400.400.40

When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.

When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.

VII. Implementation of HIPC Initiative: Not Applicable.

VIII. Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable.

Appendix 2. Chile—Statistical Issues Appendix

As of June 5, 2009

I. Assessment of Data Adequacy for Surveillance
General: Data provision is adequate for surveillance. The National Institute of Statistics (INE) regularly publishes a full range of economic and financial data. The Central Bank of Chile also publishes comprehensive macroeconomic and financial data.
Key publicly accessible websites for macroeconomic data and analysis are:
National Institute of Statistics: http://www.ine.cl/canales/chileestadistico/home.php

Central Bank of Chile: http://www.bcentral.cl/

Ministry of Finance: http://www.hacienda.cl/
II. Data Standards and Quality
Subscriber to the Fund’s Special Data

Dissemination Standard (SDDS) since

May 17, 1996.
A data ROSC was published September 17, 2007.
Chile: Table of Common Indicators Required for SurveillanceAs of June 5, 2009
Date of latest observationDate receivedFrequency of Data6Frequency of Reporting6Frequency of Publication6Memo items7:
Data Quality – Methodological Soundness8Data Quality Accuracy and reliability9
Exchange RatesJune 4, 2009June 5, 2009DDD
International Reserve Assets and Reserve Liabilities of the Monetary Authorities1May 23, 2009June 1, 2009WWW
Reserve/Base MoneyMay 2009May 25, 2009MMMO, O, LO, OO, O, O, LO, O
Broad MoneyMay 2009May 25, 2009MMM
Central Bank Balance SheetApril 2009May 25, 2009MMM
Consolidated Balance Sheet of the Banking SystemApril 2009May 25, 2009MMM
Interest Rates2June 4, 2009June 5, 2009DDD
Consumer Price IndexMay 2009June 5, 2009MMMLO, LNO, LNO, LOLO, LO, LO, O, LO
Revenue, Expenditure, Balance and Composition of Financing3 – General Government4Q1 2009April 30, 2009QQQO, LO, LNO, LOLO, O, O, LO, O
Revenue, Expenditure, Balance and Composition of Financing3 – Central GovernmentApril 2009May 30, 2009MMM
Stocks of Central Government and Central Government – Guaranteed Debt5December 2008March 31, 2009AQQ
External Current Account BalanceMay 15, 2009June 1, 2009WWWO, O, LO, LOO, O, O, O, O
Exports and Imports of Goods and ServicesMay 15, 2009June 1, 2009WWW
GDP/GNPQ1 2009May 18, 2009QQQO, LO, LO, LOLO, LO, LO, LO, O
Gross External DebtMarch 2009May 25, 2009MMM
International Investment position10Q1 2009May 25, 2009QQQ

Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes, and bonds.

Foreign, domestic bank, and domestic nonbank financing.

The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).

Reflects the assessment provided in the data ROSC, (published September 17, 2007 and based on the findings of the mission that took place during April 18-May 2, 2007) for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O); largely observed (LO); largely not observed (LNO); not observed (NO); and not available (NA).

Same as footnote 7, except referring to international standards concerning source data, assessment of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.

Same as footnote 8, except referring to international standards concerning source data, statistical techniques, assessment and validation of source data, assessment and validation of intermediate data and statistical outputs, and revision studies.

Includes external gross financial asset and liability positions vis-à-vis nonresidents.

Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes, and bonds.

Foreign, domestic bank, and domestic nonbank financing.

The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).

Reflects the assessment provided in the data ROSC, (published September 17, 2007 and based on the findings of the mission that took place during April 18-May 2, 2007) for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O); largely observed (LO); largely not observed (LNO); not observed (NO); and not available (NA).

Same as footnote 7, except referring to international standards concerning source data, assessment of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.

Same as footnote 8, except referring to international standards concerning source data, statistical techniques, assessment and validation of source data, assessment and validation of intermediate data and statistical outputs, and revision studies.

Includes external gross financial asset and liability positions vis-à-vis nonresidents.

Appendix 3. Chile: World Bank—Fund Country-Level Work Program Under JMAP

TitleProductsProvisional timing of MissionsExpected delivery date
A. Mutual information on relevant work programs
Bank work program in next 12 monthsA. Lending



1. Chile Social Protection Technical Assistance Project Additional Financing (P114774) (TTL: Theresa Jones)



2. Chile State Modernization (P083866) (TTL: Fernando Rojas)




May 2009





December 2009
B. ESW
1. Higher Education Report with OECD (P106874) (TTL: Michael F. Crawford)February 2009
2. Programmatic DPR – Poverty Country: Chile (P094879) (TTL: Molinas Vega J)June 2009
C. Technical Assistance



1. Chile Policy Assessment – Lessons from OECD Experience (P115377) (TTL: Fernando Rojas)
December 2008
2. Chile Gender Equity in Private Sector (P111824) (TTL: Castro-Munoz M)December 2008
3. Environmental and Compliance Strategy for the Superintendencia in Chile (P111436) (TTL: Belausteguigoi)February 2009
4. Technical Collaboration for the Implementation and Evaluation of the School Preferential Subsidy in Chile (P111888) (TTL: Vegas Emiliana)February 2009
5. Management Models and Development of New Education Institutions in Chile (P111889) (TTL: Vegas Emiliana)

6. Chile (FBS) Innovation (P114196) (TTL: Lasagabaster E)
February 2009





April 2009
7. Chile Support for the Development of a National Energy Efficiency Program (P112532) (TTL: Lucia Spinelli)July 2009
8. CL (FBS) Design of Educ. Institutions – phase 2 (P106750) (TTL: Vegas Emiliana)October 2009
9. CL (FBS) School Preferential Subsidy (P115260) (TTL: Vegas Emiliana)December 2009
10. CORFO (FFS) Evaluation of Foreign Investment Program for High Technology Sectors (P116019) (TTL: Esperanza Lasagabaster)January 2010
IMF work program in next 12 monthsTechnical Assistance



1. Strategic Asset Allocation for SFWs




June 2008




June 2008
Article IV ConsultationApril 2008July 28, 2008
Staff visitDecember 2008
B. Requests for work program inputs (as needed)
Fund request to Bank (with summary justification)None
Bank request to Fund (with summary justification)None
C. Agreement on joint products and missions (as needed)
Joint products in next 12 monthsNone

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