Chile rejects new constitution, sinking central bank reform

Draft had proposed some changes to central bank governance and mandate

Chile flags

Chilean voters overwhelmingly rejected the text of a new constitution on September 4. The draft constitution, developed by an elected convention over the last year, included reforms to the central bank’s governing structures and mandate.

Almost 62% of voters rejected ratifying the new constitution, which would have established Chile as a “pluri-national state” with a wider array of social and indigenous rights. Turnout in the referendum was about 85%.

The constitutional text contained

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