Hernán Büchi
Hernán Büchi Buc is a Chilean
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...

 economist and politician. He served as Minister of the Treasury under the government of Augusto Pinochet
Augusto Pinochet
Augusto José Ramón Pinochet Ugarte, more commonly known as Augusto Pinochet , was a Chilean army general and dictator who assumed power in a coup d'état on 11 September 1973...

 between 1985 and 1989.

After the recession of the early 1980s, Büchi's appointment as Finance Minister in 1985:

...marked the beginning of economic recovery. Büchi's strategy was to create the financial conditions for stable, export-led growth and to reorganize the productive structures of the export sector. Control of public spending, periodic devaluations, and incentives for domestic savings, foreign investment and the repatriation of capital gradually brought inflation down to 12 per cent by 1989, the lowest rate in Latin America. A vigorous campaign to sell parcels of the public debt to private investors in exchange for shares in Chilean industries reduced the nation's debt burden by over $4 billion...Economic growth averaged between 5 per cent and 6 per cent in 1985-8, the highest rate in the region.

In the 1989 Chilean presidential election
Chilean presidential election, 1989
A presidential election was held in Chile on 14 December 1989. This was one of the key events in the conclusion of the military dictatorship.-Results:Source: . -See also:*Chilean coup of 1973*Salvador Allende - deposed by 1973 coup...

 Büchi stood for the centre-right Democracy and Progress Party
Alliance for Chile
The Alliance for Chile , also known simply as The Alliance , was a coalition of right-wing Chilean political parties.The Alliance was replaced in 2009 by the Coalition for Change....

. Büchi's campaign hired a former public relations adviser to former British Prime Minister Margaret Thatcher
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher, was Prime Minister of the United Kingdom from 1979 to 1990...

, Timothy Bell
Timothy Bell, Baron Bell
Timothy John Leigh Bell, Baron Bell is a British advertising and public relations executive, best known for his advisory role in Margaret Thatcher's three successful general election campaigns.-Early career:...

. Büchi came second with 2,051,975 votes (29.40%). However he "received more support from women than men in 59 of the 60 electoral districts, the exception being in southernmost district of Magallanes, where his support was about equal between the sexes".

He wrote a book detailing his experience as Minister of the Treasury of Chile during 1985-1989, named The Economic Transformation of Chilehttp://www.transformamericas.org/, where he discusses in detail his role in the liberalization process of the Chilean economy.

External links

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