Chile Elects Right-Wing Council to Draft New Constitution

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Chile Elects Right-Wing Council to Draft New Constitution
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Chilean stocks gained on Monday after voters elected a right-wing council that is expected to draft a constitution that will maintain the country’s market-based economic model

by voters scared off by an earlier left-wing constituent assembly that proposed a sweeping overhaul to Chile’s political and economic system. Mr.

Boric’s popularity has also declined over his government’s handling of crime, immigration and a weak economy. Chile’s economy is expected to contract 1% this year, the only South American nation projected to post an economic decline, according to the International Monetary Fund.

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