In 1980, Kast became Labor Minister under the military dictatorship of Augusto Pinochet. In April 1982, aged 33, he became President of the Central Bank of Chile. This was a complicated moment in Chile's economy; the exchange rate was fixed at 39 pesos per dollar and Chile's large economic groups had liabilities with their own banks.
In 1980, Kast served as Labor Minister during Augusto Pinochet's military dictatorship. In April 1982, he became President of the Central Bank of Chile at age 33. This was a critical period in Chilean economics; the exchange rate was fixed at 39 pesos per dollar and there were substantial financial obligations among major economic entities.