The country suffered significantly when copper prices dipped in 2014 following the end of the commodity cycle, but historically
prudent macroeconomic policy has maintained the country's top - tier growth and credit ratings at the pinnacle of the region.
«Among the characteristics needed to join the elite group are stable
macroeconomic policies,» says Kate Phylaktis, director of the Emerging Markets Group at Cass Business School, City University of London, adding «
prudent fiscal
policy, low inflation and a stable currency, political stability, good - quality institutions, good infrastructure (especially transport) and above all, education.»