Politics of Chile Politics of Chile Chile's government is a representative democratic republic, whereby the President of Chile is both head of state and head of government, and of a formal multi-party system that in practice behaves like a two-party one, due to binomialism. Executive power is exercised by the government. Legislative power is vested in both the government and the two chambers of the National Congress. The judiciary is independent of the executive and the legislature of Chile. The Constitution of Chile was approved in a national plebiscite in September 1980, under the military government of dictator Augusto Pinochet. It entered into
Economy of Chile Foundation's "Index of Economic Freedom" in 2012, Chile has the strongest private property rights in Latin America, scoring 90 on a scale of 100. Chile's AA- S&P credit rating is the highest in Latin America, while Fitch Ratings places the country one step below, in A+. There are three main ways for Chilean firms to raise funds abroad: bank loans, issuance of bonds, and the selling of stocks on U.S. markets through American Depository Receipts (ADRs). Nearly all of the funds raised through these means go to finance domestic Chilean investment. In 2006, the Government of Chile ran a surplus