Martín Costabal

He holds a degree in business engineering from the Pontifical Catholic University of Chile (PUC, 1971), and an MBA from the University of Chicago.^[1] He currently serves on the advisory board of the MBA at the Universidad del Desarrollo^[4] and has sat on the boards of Empresas CMPC, Empresas Pizarreño, Banco de Chile, Ladeco, the CCU, Cemento Melón, Chilectra and Icare.^[1][2]

During his brief tenure as finance minister, he worked alongside the new authorities of the Central Bank of Chile, who, under its newly granted autonomy, pursued a policy of adjustment through interest rates to contain inflation and imports.^[2]

He also signed Law No. 18,904, which transferred all employees of the Central Bank of Chile who, as of 31 December 1989, were hired on a fee basis to the permanent staff of the Foreign Investment Committee (CIE).^[2]

Costabal was also chief executive officer of AFP Habitat, director of the Fundación Belén Educa, and Chilean governor before the Inter-American Development Bank.^[1][5]

In 1995 he received the award for economist of the year from the Pontifical Catholic University of Chile.

In the public sector he also served as Director of the Budget Office,^[6] was a member of the team that designed the individual capitalisation system (1974–1980), and adviser to the Ministry of Economy (1979–1980).^[1]

He later became a member of the Supreme Tribunal of the Independent Democratic Union (UDI).^[7]

In both administrations of Michelle Bachelet, he participated in the commissions that discussed proposals to improve the Chilean pension system.^[8][9][10]