Elected in an economic upswing, Chile's Kast takes office as global turmoil rattles markets


Ecuador's President Daniel Noboa poses for a photograph alongside Chile's President-elect Jose Antonio Kast before a bilateral meeting in Santiago, Chile, March 10, 2026. REUTERS/Juan Gonzalez

SANTIAGO, March 10 (Reuters) - Elected ⁠on promises of economic growth, deregulation and public spending cuts, local markets rallied after Chile elected far-right Jose Antonio Kast as president in December, ⁠but the economic tailwinds have turned turbulent as the Iran war has sent global markets into a tailspin.

Kast, who takes power on ‌Wednesday, is now in charge of managing the turmoil. A spokesperson for Kast's economic team said that no economic contingencies were planned at the moment, but did not provide further details of how recent developments would impact their economic agenda.

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