Chile’s Boric Replaces Finance Chief, Sparking Opposition Criticism

President Gabriel Boric overhauled his economic team, naming Nicolás Grau as finance minister after the unexpected resignation of Mario Marcel, a figure widely viewed by markets as a stabilising force. Álvaro García, a former cabinet veteran, takes over the Economy, Foment and Tourism portfolio, while sociologist Ignacia Fernández moves from a prior sub-secretary role to lead the Agriculture ministry. The reshuffle, announced 21 August and detailed by the government on Monday, also followed the departure of Agriculture Minister Esteban Valenzuela. Business leaders and conservative figures criticised the appointments. Sebastián Piñera Morel, head of the Piñera family office, said Grau “represents the Frente Amplio and communism” and lacks the technical skills required at Hacienda. He argued Marcel had quit after growing “tired of political pressure” for looser fiscal policy. The cabinet shake-up lands amid a fast-moving presidential race. Right-wing contender José Antonio Kast, already leading public expectations to win according to the latest Cadem survey, unveiled his “Plan Desafío 90” and added free-market economist Bernardo Fontaine to his campaign staff, signalling an effort to sharpen his economic credentials ahead of the 2026 vote.