Shift Towards Center: Chile's Elections Indicate Potential Political Balance

Chile's moderate right made gains in regional elections, hinting at less polarized politics before the 2025 presidential election. President Gabriel Boric's coalition avoided a major defeat, while center-right Chile Vamos and Evelyn Matthei gained prominence. Far-right Republicans had limited success despite expectations of a stronger outcome.

Chile's moderate right celebrated significant advances in regional elections on Sunday, signaling a potential return to less polarized politics ahead of the 2025 presidential election. Despite not achieving an overwhelming victory, President Gabriel Boric's coalition managed to dodge a predicted crushing defeat.

Political analysts suggest that the election outcome reflects a distribution of votes similar to pre-2019 social unrest levels. This trend could attract positive attention from local and international investors, with Scotiabank Chile's chief economist emphasizing its market benefits.

The election spotlighted the rising profile of center-right Chile Vamos, marking a boost for Evelyn Matthei as a presidential contender. Although Chile's far-right Republicans made some municipal gains, their overall performance fell short of expectations. Future runoff contests will further illuminate the presidential race dynamics.

(With inputs from agencies.)