Chile Finance Minister Resigns Amid Cabinet Reshuffle

Chile's finance minister, Mario Marcel, resigned amid a cabinet reshuffle. President Boric cited Marcel's personal reasons for stepping down and appointed Nicolas Grau as the new minister. Grau, a key political ally, is known for handling foreign investments and lithium contracts. The reshuffle marks ongoing economic stability efforts.

In a significant political shift, Chile's Finance Minister Mario Marcel has stepped down amid a broader cabinet reshuffle under President Gabriel Boric's administration. Announced at a Santiago ceremony, Boric stated Marcel's resignation was due to personal reasons, with Economy Minister Nicolas Grau appointed as his successor.

President Boric emphasized commitment to fiscal responsibility and long-term stability. Grau, a former student leader and economic expert, faces a history of dealing with international investment and lithium dealings, areas under scrutiny for project delays. He resigns from his current role to assume the finance position, succeeded by Alvaro Garcia.

The reshuffle aligns with Boric's strategy to maintain economic progress despite earlier electoral challenges. Marcel's economic policies, including stabilizing the economy post-pandemic, were pivotal. With seven months left and upcoming elections, Boric's administration remains focused on continuing fiscal advancements.

(With inputs from agencies.)