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Boric Unveils Cabinet, Signals Policy Shift

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  Published in Business and Finance on Wednesday, January 21st 2026 at 1:42 GMT by reuters.com
      Locale: CHILE

Santiago, Chile - January 21st, 2026 - Chile stands on the cusp of a significant shift in governance as incoming President Gabriel Boric, popularly referred to as Kast, unveiled his cabinet selections today. The announcement, made Wednesday, marks the formal transition of power and provides the first detailed glimpse into the policy direction Chile will take under the new administration.

The most prominent appointment is that of Jorge Quiroz as Finance Minister. This decision immediately commands attention, as the Finance Minister holds a pivotal role in shaping the nation's economic trajectory. Quiroz's background and stated policy leanings will be heavily scrutinized by economists, investors, and the Chilean public alike.

A Cabinet Reflecting Boric's Promises

Beyond Quiroz, the cabinet appointments broadly reflect Boric's campaign promises centered on strengthening social programs and prioritizing environmental sustainability. The incoming President campaigned on a platform of addressing inequality, improving access to healthcare and housing, and fostering greater inclusion for Chile's indigenous communities. The selections made evident this intent.

Specifically, key portfolios dedicated to health, housing, and indigenous affairs demonstrate a clear commitment to tackling some of Chile's most pressing social challenges. The newly appointed Minister of Health will be tasked with overhauling the existing healthcare system, a frequent point of criticism during Boric's campaign. The housing minister will face the formidable challenge of addressing the country's housing deficit and affordability crisis, particularly in urban centers.

Furthermore, the appointment of a dedicated Minister of Indigenous Affairs underscores Boric's pledge to address the historical grievances and systemic inequalities faced by Chile's indigenous populations. This signals a potential shift in government policy regarding land rights, resource management, and cultural preservation - issues that have historically been sources of tension and conflict.

Quiroz: A Closer Look at Chile's Future Finance Minister

Jorge Quiroz's appointment as Finance Minister is arguably the most crucial. While details regarding his specific policy proposals remain to be fully elaborated, early signals indicate a cautious approach to economic reform. Sources close to Kast's team suggest Quiroz favors a blend of fiscal responsibility and targeted social investment. He's reportedly an advocate for progressive taxation and increased public spending on education and infrastructure.

This contrasts somewhat with the policies of the outgoing administration, which prioritized fiscal austerity and attracting foreign investment through a business-friendly environment. The implications for Chile's economic growth and investment climate are significant and remain to be seen. The markets reacted cautiously to the announcement, with the Chilean Peso experiencing a slight dip following the news. Analysts are now focused on Quiroz's initial statements and policy proposals to assess the potential impact on the economy.

A Shift in Direction

The cabinet appointments collectively signify a decisive shift in Chile's economic and social direction. The Boric administration appears poised to implement policies that prioritize social welfare and environmental protection, even if it means deviating from the traditionally conservative economic policies of previous governments.

The inauguration, scheduled for [insert inauguration date], will officially mark the beginning of this new era for Chile. The initial months of the Boric presidency will be crucial, as the new administration navigates the challenges of implementing its ambitious agenda and securing the support of a diverse and often divided Chilean society. The choices made by Quiroz, and the other ministers, will determine whether the promises made during the campaign become a reality. The eyes of Chile, and indeed the world, will be watching closely.

Further Developments Expected

While this initial cabinet announcement provides a significant overview, further details regarding specific policy initiatives are expected to be released in the coming weeks. The Boric administration has indicated a commitment to transparency and public consultation throughout the implementation process. Analysts anticipate robust debate and potential challenges as the new government attempts to translate its vision into concrete action.