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Nicolás Eyzaguirre

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Nicolás Eyzaguirre
Eyzaguirre in 2014
Minister of Finance
In office
31 August 2017 – 11 March 2018
PresidentMichelle Bachelet
Preceded byRodrigo Valdés
Succeeded byFelipe Larraín
In office
11 March 2000 – 11 March 2006
PresidentRicardo Lagos
Preceded byManuel Marfán
Succeeded byAndrés Velasco
Minister General Secretariat of the Presidency
In office
27 June 2015 – 31 August 2017
PresidentMichelle Bachelet
Preceded byPatricia Silva Meléndez
Succeeded byGabriel de la Fuente
Minister of Education
In office
11 March 2014 – 27 June 2015
PresidentMichelle Bachelet
Preceded byCarolina Schmidt
Succeeded byAdriana Delpiano
Personal details
Born (1952-12-26) 26 December 1952 (age 71)
Santiago, Chile
Political party
SpouseMargarita Sánchez Muñoz
ChildrenTwo
ParentDelfina Guzmán
Alma mater
OccupationPolitician
ProfessionEconomist

Nicolás Eyzaguirre Guzmán (born 3 January 1953 in Santiago) is a Chilean economist, and the former Minister of Education of his country.

Previously, he was Chile's Minister of Finance between 2000 and 2006.[1] He is the son of architect Joaquín Eyzaguirre and actress Delfina Guzmán.

Early life and studies

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Eyzaguirre received his secondary education at the elite Colegio Verbo Divino private school. A music enthusiast, at the age of 15 he was admitted to the University of Chile Conservatory to study classical guitar, being lured by the Nueva canción movement. With his brother, Joaquín, he was part was of the folk group Aquelarre, playing titles such as, El cautivo de Tiltil and Valparaíso.

Eyzaguirre began his career in politics as a member of the Christian Democrat Party, and then migrated to the Christian Left Party and then to the Communist Party, where he stayed until his departure to the United States. He graduated as a Commercial Engineer with a mention in economics at the University of Chile, and obtained his master's degree in economics from the same university, specializing in economic development.

Career

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Rising as scholar

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Later, he traveled to the United States to obtain a doctorate in macroeconomics and international trade from the Harvard University, which he never completed. Eyzaguirre changed his view of economics during his time at Harvard. He later admitted to having been mistaken in his Communist ideology, and that adopting the principles of the free market was more sound and rational.[citation needed]

Back in Chile, Eyzaguirre became acquainted with and befriended Ricardo Lagos, with whom he later joined the Party for Democracy, his current party affiliation.

Between 1984 and 1985, he worked as an international consultant and adviser to the International Monetary Fund. Later, between 1985 and 1990, he worked as an expert in Monetary and Financial Policy for Latin America at CEPAL. After the return of democracy, he performed senior roles at the Central Bank of Chile between 1990 and 1997, occupying the positions of Director of Research and Chief Economist.

Political career

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On 11 March 2000, he took the oath as Minister of Finance in the government of Ricardo Lagos. The Lagos government's policy was to perpetuate and perfect Chile's free market economy by drawing lessons for the Asian crisis, which had left Chile with persistently high unemployment and low growth. It balanced the fiscal accounts and implemented a fiscal rule based on the structural balance, which strengthened the fiscal position and contributed to inflation reaching historical lows. The increased macroeconomic stability fostered a return to better economic performance, with growth reaching 6% by 2004. Eyzaguirre's six-year term makes him the longest-serving Minister of Finance in the history of Chile.

Under his tenure the state owned mining company, Codelco, closed copper forward trades with the Chinese government. Those transactions generated losses of almost US$5.0 bn for the Chilean government. The internal revenue service of Chile (SII) questioned de operations because copper was sold at an average of usd1,16 per pound, while in the London Exchange was trading at US$3,87.[2][3][4][5]

Views on economics and political positions

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The concept of extractivism has been criticized by Eyzaguirre, who cites the mining sector of Australia as a successful example of a "deep and sophisticated value chain", with high human capital, self-produced machinery and associated top-tier scientific research.[6] For the case of Chile Eyzaguirre argue that rentierism and not extractivism should be concept of concern.[6]

Eyzaguirre supported the proposed new political constitution in the 2022 Chilean national plebiscite.[7]

References

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  1. ^ Reid, Michael (2007). Forgotten continent: the battle for Latin America's soul. Yale University Press. p. 196. ISBN 978-0-300-11616-8. Retrieved 12 April 2011.
  2. ^ Mostrador Mercados (Santiago), june 12th, 2014
  3. ^ Emol (Santiago), June 1st, 2014
  4. ^ Emol (Santiago), October 14th, 2014
  5. ^ Chamber of Deputies Investigation Report, November 10th, 2014
  6. ^ a b Eyzaguirre, Nicolás (2022-02-12). "Neoliberales, extractivistas, estatistas, etc. Cuando los abusos conceptuales nublan". La Tercera (in Spanish).
  7. ^ Molina J., Tomás (2022-08-15). "Las posturas de los ministros de Hacienda de los últimos 30 años: Solo dos han revelado que van por el Apruebo". Emol (in Spanish). Retrieved 2023-01-07.
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