Overview

• Marcel left the Finance Ministry citing personal reasons, and President Gabriel Boric formalized the change Thursday at La Moneda in Santiago.
• Boric moved Economy Minister Nicolás Grau to Finance and selected Álvaro García Hurtado and María Ignacia Fernández Gatica to head Economy and Agriculture.
• The resignation came a day after Boric removed Agriculture Minister Esteban Valenzuela, reflecting ongoing cabinet turnover ahead of national elections.
• Opposition figures and observers warned the switch could complicate drafting and defending the 2026 budget and may unsettle markets.
• Marcel, a former Central Bank president and founding member of Boric’s cabinet, is credited by supporters with pension reform and taming inflation, while reports on his future plans remain unconfirmed.