MercoPress. South Atlantic News Agency

Marcel resigns as Chile's Finance Minister for personal reasons

Marcel met with Boric and dodged reporters on his way out of La Moneda

Mario Marcel on Thursday turned in his resignation as Chile's Finance Minister, just one day after Esteban Valenzuela left Agriculture. While Marcel's decision was reported to be due to strictly personal reasons, Valenzuela's departure just seven months from the end of President Gabriel Boric Font's term follows alliances ahead of this year's elections.

Marcel had served as finance minister since the beginning of President Boric's administration in March 2022. His resignation was formalized during a meeting at La Moneda with the head of State.

Both replacements were expected to be sworn in later Thursday.

Marcel met with Boric for about 20 minutes and left La Moneda through an alternative exit, thus evading questions from the press.

Valenzuela was removed from his post after his Regionalist Green Social Federation (FRVS) withdrew from the ruling party's coalition.

Earlier this week, eight candidates signed up for the Nov. 16 presidential elections, which will also be the first when voting is mandatory.

According to recent polls, the two front-runners are far-right candidate José Antonio Kast and communist candidate Jeannette Jara. Kast, from the “Cambio por Chile” coalition, holds a slight lead over Jara, a former labor minister and the candidate for the ruling “Unidad por Chile” coalition.

If no candidate wins a majority of the vote, a run-off election will be held on December 14 between the top two finishers. Polls suggest this will be a contest between Kast and Jara. Other notable candidates include Evelyn Matthei from the right-wing “Chile Grande y Unido” coalition and populist Franco Parisi.