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Chile joined theInternational Monetary Fund (IMF) andInternational Bank for Reconstruction and Development (IBRD), the founding branch of theWorld Bank Group, on December 31, 1945.[1]
Chile was one of the 44 original member countries at the 1944Bretton Woods Conference who signed itsArticles of Agreement. Chile joined other branches of theWorld Bank Group relatively soon after their creation. They joined theInternational Development Association (IDA) on December 30, 1960, theInternational Finance Corporation (IFC) on April 15, 1957, and theMultilateral Investment Guarantee Agency (MIGA) the day it was established on April 12, 1988.[1] The exception was theInternational Centre for Settlement of Investment Disputes (ICSID) which Chile joined on October 24, 1991, 25 years after its establishment.[1]
As of 2019, the World Bank considered Chile anemerging market anddeveloping economy, with an economy that is 30% or more dependent on a single-exportcommodity.[2] Copper ore (at $16.6B) and refined copper (at $14.9B) represented 45% of all Chilean exports.[3]
The World Bank considers Chile to be a success story. "Chile has been one of Latin America’s fastest-growing economies in recent decades, enabling the country to significantly reduce poverty. Between 2000 and 2017, the population living in poverty (on US$ 4 per day) decreased from 31% to 6.4%."[4]
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In December 2017, the World Bank Group established an officeSantiago, Chile.[5]
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