Felipe Larraín, current Minister of Finance of the Chilean Government, held a fireside chat mid-April at Columbia University regarding the challenges of globalization for emerging economies. The event, moderated by Joseph E. Stiglitz, Professor at Columbia University and Nobel Laureate in Economic Sciences, was part of the "Chile Day 2019" celebration in New York.
Larraín and Stiglitz agreed that climate change is one of today’s most significant global challenges. In this regard, Larraín, who leads the Coalition of Finance Ministers for Climate Action, pointed out that more than US$ 500 billion in fossil fuel subsidies are spent worldwide, highlighting the need for change.
In terms of national issues, Larraín mentioned that he expected Chile to achieve the highest investment growth in Latin America, with this investment remaining strong for two consecutive years, driven by non-mining sectors. He also committed to continuing efforts to reduce the fiscal deficit.
During Chile Day 2019, Larraín also met with market analysts, global fund administrators, and international law firms. The minister emphasized the importance of collaboration in accelerating Chile’s economic development.
