Report
Benito Berber

Chile – Kast emerged as the favorite to win the second round

The first round of the Chilean presidential election on November 16 produced a clear head-to-head pairing for the December 14 runoff: Jeannette Jara, the left-leaning candidate from the governing coalition, won approximately 26.8 % of the vote. Meanwhile José Antonio Kast, the hard-right veteran politician, took around 2 3 . 9 %. Because neither achieved more than 50 %, they advance to the second round . On the legislative front, in the simultaneous elections for the Chamber of Deputies and half the Senate, the right-leaning bloc achieved a meaningful shift . Reports indicate that the ultra-conservative – Kast’s party, the Partido Republicano de Chile – made a leap in representation: from roughly one senator to six , and from around 15 deputies to 31 . Combined with the traditional right parties, the right-leaning bloc holds a slim majority: approximately 7 6 of 150 seats in the lower house, and 2 5 of 50 in the Senate. Importantly, the right and center-right failed to reach the 4/7 legislative majority needed for constitutional reform. On the left, the governing coalition lost ground (for example, dropping from ~72 to ~61 deputies) and remains in opposition across both chambers. Notably, Parisi's centrist party , the Partido de la Gente, won 14 seats in the Chamber of Deputies. Therefore, the right and center-right blocs will need to negotiate with more moderate senators and deputies to pass legislation.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Benito Berber

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