Marcel a year after his resignation: I don't regret (having been in Boric's government), because I feel that I managed to make a difference

Mario Marcel, former finance minister under President Gabriel Boric, has reflected one year after his early resignation on August 21, 2025, expressing no regret over his time in government. In an interview with La Tercera, Marcel emphasized that he felt he made a difference during Boric’s administration, particularly in stabilizing the economy and restoring a foundation for growth amid what he called the “shock populista.” His recent book, La montaña rusa: Crónica de una crisis y cómo se superó (2019–2024), which is now in its second edition, serves as both a personal account and a broader analysis of Chile's economic challenges during this period. The book was released just weeks before the completion of the long-awaited megareform, which had been subject to numerous legal hurdles including presidential vetoes and constitutional review by the Constitutional Court (TC). Marcel currently works as a consultant primarily outside Chile, citing concerns about speculation surrounding his hiring within the country. He is also involved in academic roles, including membership in the Council of Infrastructure Policies (CPI) and the Academic Board of the Master’s Program in Public Policy at the University of Chile. While he does not rule out future leadership positions in business, he prefers roles that are distant from the financial world he previously inhabited. When asked whether he sacrificed his professional reputation and technical capital by participating in Boric’s government, Marcel responded that he believed the capital should be used rather than hoarded indefinitely. He noted that while some might view his tenure as a loss, more objective analyses suggest otherwise. The timing of Marcel’s resignation in August 2025, before the end of Boric’s term, has raised questions among critics who speculate that he may have sought to avoid potential constitutional accusations against him. Marcel dismissed these claims, stating he had never considered such possibilities and had not discussed them with any ministers. He argued that political disputes often cloud objective assessments of economic performance, and that the true measure of success lies in measurable outcomes such as inflation control and fiscal stability. Marcel’s contributions were particularly evident in his efforts to curb the “shock populista,” a term he uses to describe the social unrest and policy shifts that characterized the late years of Boric’s presidency. He credits his work alongside the Central Bank in reducing inflation and stabilizing public finances, which he believes laid the groundwork for sustainable growth. Despite criticism from parts of the opposition, Marcel maintains that his actions helped restore confidence in the economy and set the stage for future development. Meanwhile, the current government led by President José Antonio Kast continues to face scrutiny. A week into the final stages of the megareform, the Constitutional Court partially ruled against key provisions, limiting the scope of tax invariability and invalidating compensation mechanisms related to environmental impact assessments. This decision marks a partial victory for the opposition, which had challenged the reform on grounds of constitutionality and environmental protection. The ruling underscores growing tensions between the executive and legislative branches, with the opposition arguing that the government’s policies risk undermining democratic principles and environmental safeguards. Kast’s administration has struggled with internal cohesion and public trust. Recent months have seen frequent resignations among ministers and secretaries, raising concerns about governance effectiveness. Critics argue that the government’s approach to security and economic reforms has failed to address deep-rooted societal frustrations, leading to increased pessimism among citizens. Despite initial support, Kast’s approval ratings remain low, with many viewing his mandate as a reaction to widespread discontent rather than a genuine shift toward meaningful change. As the megareform moves closer to becoming law, the political landscape remains volatile. Opposition figures continue to challenge the government’s agenda, while the ruling party faces mounting pressure to deliver tangible results. With Marcel reflecting on past achievements and the current administration grappling with new challenges, the path forward for Chile remains uncertain. The coming months will likely determine whether the nation can navigate these complex political and economic waters with greater clarity and stability.