Chile Votes on Constitution That Would Propel Leftist Shift

Chileans are heading to the polls for a referendum on a new constitution that prioritizes social rights and the environment, potentially steering a global investor favorite further away from its pro-market ethos.

Voters will approve or reject the proposed charter written by a left-leaning Constitutional Convention, thus either replacing or keeping the basic laws enacted during the 1973-1990 dictatorship. Polls indicate the new constitution will be shot down, though Sunday’s ballot is obligatory for the first time in over a decade, meaning that uncertainty is running high as turn-out spikes.