Abstract
October 24, 2018
Title Page
October 24, 2018
Prepared By
The Western Hemisphere Department
Contents
FUND RELATIONS
STATISTICAL ISSUES
RELATIONS WITH OTHER INTERNATIONAL FINANCIAL INSTITUTIONS
TABLE
1. Table of Common Indicators Required for Surveillance
Fund Relations
(As of August 31, 2018)
Membership Status
Joined: December 31, 1945; Article VIII
| General Resources Account | SDR Million | Percent Quota |
|---|---|---|
| Quota | 1,744.30 | 100.00 |
| Fund holdings of currency | 1,598.89 | 91.66 |
| Reserve Tranche Position | 145.42 | 8.34 |
| Lending to the Fund | ||
| New Arrangements to Borrow | 70.40 |
| General Resources Account | SDR Million | Percent Quota |
|---|---|---|
| Quota | 1,744.30 | 100.00 |
| Fund holdings of currency | 1,598.89 | 91.66 |
| Reserve Tranche Position | 145.42 | 8.34 |
| Lending to the Fund | ||
| New Arrangements to Borrow | 70.40 |
| SDR Department | SDR Million | Percent Allocation |
|---|---|---|
| Net cumulative allocation | 816.89 | 100.00 |
| Holdings | 539.31 | 66.02 |
| SDR Department | SDR Million | Percent Allocation |
|---|---|---|
| Net cumulative allocation | 816.89 | 100.00 |
| Holdings | 539.31 | 66.02 |
Outstanding Purchases and Loans
None
Latest Financial Arrangements
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| Stand-By | Nov 8, 1989 | Nov 7, 1990 | 64.00 | 64.00 |
| EFF | Aug 15, 1985 | Aug 14, 1989 | 825.00 | 806.25 |
| Stand-By | Jan 10, 1983 | Jan 9, 1985 | 500.00 | 500.00 |
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| Stand-By | Nov 8, 1989 | Nov 7, 1990 | 64.00 | 64.00 |
| EFF | Aug 15, 1985 | Aug 14, 1989 | 825.00 | 806.25 |
| Stand-By | Jan 10, 1983 | Jan 9, 1985 | 500.00 | 500.00 |
Projected Payments to Fund (in SDR Million)1
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2018 | 2019 | 2020 | 2021 | 2022 | |
| Principal | |||||
| Charges/Interest | 0.67 | 2.68 | 2.68 | 2.68 | 2.68 |
| Total | 0.67 | 2.68 | 2.68 | 2.68 | 2.68 |
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2018 | 2019 | 2020 | 2021 | 2022 | |
| Principal | |||||
| Charges/Interest | 0.67 | 2.68 | 2.68 | 2.68 | 2.68 |
| Total | 0.67 | 2.68 | 2.68 | 2.68 | 2.68 |
Exchange Rate System
Chile has accepted the obligations of Article VIII, Sections 2, 3, and 4 and maintains an exchange rate system free of restrictions on the making of payments and transfers for current international transactions. Chile has a free floating exchange rate system.
Statistical Issues
(As of October 1, 2018)
| 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 (CBC) also publishes comprehensive macroeconomic and financial data. The Ministry of Finance publishes fiscal data. | |
| Key publicly accessible websites for macroeconomic data and analysis are: | |
| National Institute of Statistics: http://www.ine.cl/ Central Bank of Chile: http://www.bcentral.cl/ Ministry of Finance: http://www.minhda.cl/ |
|
| Recent Developments: The Central Bank started to publish a house price index in 2014 and a new series on external debt at market values in 2015 which facilitate better monitoring and identification of risks. The National Institute of Statistics (INE) has revised the basket and methodology of the Consumer Price Index (CPI) in 2017, including to address some limitations in the clothing sub-index. | |
| Data Standards and Quality | |
| Subscriber to the Fund’s Special Data Dissemination Standard (SDDS) since May 17, 1996. In coordination with STA, Chile is in the process to gain adherence to SDSS plus. | A data ROSC was published September 17, 2007. |
| Reporting to STA (Optional) | |
| The CBC uses the standardized report forms (SRFs) to report monthly data for the central bank, other depository corporations (ODCs), other financial corporations (OFCs), and monetary aggregates. However, data for the ODCs exclude savings and credit cooperatives. | |
| The CBC reports all core and 8 of 28 encouraged financial soundness indicators on a monthly basis. | |
| 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 (CBC) also publishes comprehensive macroeconomic and financial data. The Ministry of Finance publishes fiscal data. | |
| Key publicly accessible websites for macroeconomic data and analysis are: | |
| National Institute of Statistics: http://www.ine.cl/ Central Bank of Chile: http://www.bcentral.cl/ Ministry of Finance: http://www.minhda.cl/ |
|
| Recent Developments: The Central Bank started to publish a house price index in 2014 and a new series on external debt at market values in 2015 which facilitate better monitoring and identification of risks. The National Institute of Statistics (INE) has revised the basket and methodology of the Consumer Price Index (CPI) in 2017, including to address some limitations in the clothing sub-index. | |
| Data Standards and Quality | |
| Subscriber to the Fund’s Special Data Dissemination Standard (SDDS) since May 17, 1996. In coordination with STA, Chile is in the process to gain adherence to SDSS plus. | A data ROSC was published September 17, 2007. |
| Reporting to STA (Optional) | |
| The CBC uses the standardized report forms (SRFs) to report monthly data for the central bank, other depository corporations (ODCs), other financial corporations (OFCs), and monetary aggregates. However, data for the ODCs exclude savings and credit cooperatives. | |
| The CBC reports all core and 8 of 28 encouraged financial soundness indicators on a monthly basis. | |
Chile: Table of Common Indicators Required for Surveillance
(As of October 1, 2018)
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).
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Chile: Table of Common Indicators Required for Surveillance
(As of October 1, 2018)
| Date of Latest Observation | Date Received | Frequency of Data6 | Frequency of Reporting6 | Frequency of Publication6 | |
|---|---|---|---|---|---|
| Exchange Rates | September 25, 2018 | September 25, 2018 | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | September 15, 2018 | September 15, 2018 | W | W | W |
| Reserve/Base Money | September 15, 2018 | September 15, 2018 | W | W | W |
| Broad Money | August 2018 | September 2018 | M | M | M |
| Central Bank Balance Sheet | July 2018 | September 2018 | M | M | M |
| Consolidated Balance Sheet of the Banking System | July 2018 | October 2018 | M | M | M |
| Interest Rates2 | September 15, 2018 | September 15, 2018 | D | D | D |
| Consumer Price Index | August 2018 | September 10, 2018 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | 2017 | June 30, 2018 | A | A | A |
| Revenue, Expenditure, Balance and Composition of Financing3 – Central Government | July 2018 | August, 2018 | M | M | M |
| Stocks of Central Government and Central Government –Guaranteed Debt5 | Q2 2018 | June 30, 2018 | Q | Q | Q |
| External Current Account Balance | Q2 2018 | August 20, 2018 | Q | Q | Q |
| Exports and Imports of Goods | August 2018 | September 23, 2018 | M | M | M |
| GDP/GNP | Q2 2018 | August 20, 2018 | Q | Q | Q |
| Gross External Debt | July 2018 | August 20, 2018 | M | M | M |
| International Investment Position7 | Q2 2018 | August 20, 2018 | Q | Q | Q |
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).
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Chile: Table of Common Indicators Required for Surveillance
(As of October 1, 2018)
| Date of Latest Observation | Date Received | Frequency of Data6 | Frequency of Reporting6 | Frequency of Publication6 | |
|---|---|---|---|---|---|
| Exchange Rates | September 25, 2018 | September 25, 2018 | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | September 15, 2018 | September 15, 2018 | W | W | W |
| Reserve/Base Money | September 15, 2018 | September 15, 2018 | W | W | W |
| Broad Money | August 2018 | September 2018 | M | M | M |
| Central Bank Balance Sheet | July 2018 | September 2018 | M | M | M |
| Consolidated Balance Sheet of the Banking System | July 2018 | October 2018 | M | M | M |
| Interest Rates2 | September 15, 2018 | September 15, 2018 | D | D | D |
| Consumer Price Index | August 2018 | September 10, 2018 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | 2017 | June 30, 2018 | A | A | A |
| Revenue, Expenditure, Balance and Composition of Financing3 – Central Government | July 2018 | August, 2018 | M | M | M |
| Stocks of Central Government and Central Government –Guaranteed Debt5 | Q2 2018 | June 30, 2018 | Q | Q | Q |
| External Current Account Balance | Q2 2018 | August 20, 2018 | Q | Q | Q |
| Exports and Imports of Goods | August 2018 | September 23, 2018 | M | M | M |
| GDP/GNP | Q2 2018 | August 20, 2018 | Q | Q | Q |
| Gross External Debt | July 2018 | August 20, 2018 | M | M | M |
| International Investment Position7 | Q2 2018 | August 20, 2018 | Q | Q | Q |
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).
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Relations with other International Financial Institutions
World Bank: https://www.worldbank.org/en/country/chile
Intern-American Development Bank: https://www.iadb.org/en/countries/chile/overview
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.