JS-1890: Statement by John B. Taylor, <script type="text/javascript"> var wmNotice = "UNT Web Archive - External links, forms, and search boxes may not function within this collection. Url: http://www.treasury.gov/press/releases/js1890.htm time: 23:37:27 May 14, 2009"; var wmHideNotice = "hide"; var contextRoot = "https://webarchive.library.unt.edu/eot2008/"; </script> <script type="text/javascript" src="https://webarchive.library.unt.edu/eot2008/js/disclaim.js"></script> <br>Under Secretary for International Affairs<br>United States Department of the Treasury <br />Santiago, Chile<br />2 September 2004



	FROM THE OFFICE OF PUBLIC AFFAIRS September 7, 2004 JS-1890 Statement by John B. Taylor, Under Secretary for International Affairs United States Department of the Treasury Santiago, Chile 2 September 2004 I had an excellent series of meetings with Chile´s Finance Minister, Nicolas Eyzaguirre, and the President of the Central Bank, Vittorio Corbo, to discuss the remarkable success of the Chilean economy. I also met with economists from the University of Chile and businesspeople at a lunch hosted by the American Chamber of Commerce. It should be clear to everyone that Chile's economic success is attributable to sound, pro-growth policies implemented by very capable economic leaders. Chile's consistent adherence to sound monetary, fiscal, and exchange rate policy and its strong institutions have well positioned the economy to benefit from the global recovery. The Free Trade Agreement with the United States is resulting in stronger exports for the United States and Chile. It is important to recognize that Chile's progress in generating economic growth has been coupled with success in reducing poverty – and these two facts are related. Chile has cut its poverty rate by half over the last decade to under 20%. This is a wonderful achievement. Strengthened policies and the global recovery are boosting growth throughout the hemisphere. For example, yesterday Brazil reported 6% growth in the second quarter, following two quarters of 7% growth. This confirms the gains from the Lula Administration's effective policies. I appreciate the excellent discussions we had in Chile and look forward to continued cooperation between our two nations in the future. Thank you.