After multiple policy setbacks, Chile's President Gabriel Boric will likely moderate his leftist economic goals ahead of the November presidential election, focusing instead on bolstering security amid rising violence. In late January, Chile's National Congress passed a watered-down version of the country’s decades-in-the-making pension reform, which will increase retirees' payouts in the long term but failed to meet the Boric administration's goal of eliminating private insurers. Boric's minority government ultimately had to make significant concessions on the reform in order to gain enough support from opposition legislators to pass the bill. This dilution reflects Boric's growing pragmatism following several years of difficult negotiations with leftist allies and other center-right legislators, including over a failed tax reform that aimed to fund social spending and a constitutional change that would have established strong public national education, health and pension systems. Voters also rejected the 2022 and 2023 constitutional rewrite proposals that aimed...
