Chile constitutional reform will not bring consensus

Significance

This is Chile’s second attempt to agree on a new constitution, following the overwhelming defeat of a previous proposal in a referendum in September 2022.

Impacts

• The fraught constitutional process has fuelled public impatience with politicians, creating fertile ground for populism.
• Lack of political consensus is blamed for curbing economic growth, as cited by Standard & Poor’s in its recent downgrade of Chile’s outlook.
• Campaigning for and against the constitution will focus on current issues, rather than the text itself as a long-term political framework.