Let me say a few words about each of these. Structural reform is a broad area with many priorities. But in general, we can say that policy-makers should aim to encourage efficiency and flexibility in their economies. This is particularly true in the financial sector, where it is vital that all countries work to strengthen their financial markets and institutions.
The ultimate goal should be an efficient and stable financial system, so that scarce resources can be channelled into the most productive investments, and so that problems in the global economy are less likely to disrupt national economies. While both Canada and Chile have reasonably flexible economies, there is still much more to be done.