Programa de reposición
Program for the replacement and expansion of International Reserves
The Central Bank of Chile in January 2021 began a gradual program of replenishment and expansion of international reserves to strengthen the country's international liquidity position, in preparation for the end of the IMF Flexible Credit Line in 2022. The objective of This initiative is to increase the level of international reserves to around 18% of GDP.
Thus, the Central Bank is implementing a foreign exchange purchase program for US $ 12,000 million. Of these, US $ 2,550 correspond to the replenishment of stocks used in the intervention plan that was implemented between December 2019 and January 2020, and the remaining balance to the amount needed to increase its size to about 18% of GDP. This program will materialize in a period of 15 months, in order to coincide with the end of the FCL, through regular purchases of foreign currency for US $ 40 million per day through competitive auctions.