Chile's President-elect Gabriel Boric and Chilean author Isabel Allende meet in Santiago, Chile March 10, 2022. President-elect press office/Handout via REUTERS
Chile's President-elect Gabriel Boric and Chilean author Isabel Allende meet in Santiago, Chile March 10, 2022. President-elect press office/Handout via REUTERS Reuters / PRESIDENT-ELECT PRESS OFFICE

Chile shifts to the left on Friday when Gabriel Boric, 36, is sworn in as the South American country's youngest ever president after pledging social and economic reforms, and riding a wave of voter dissatisfaction with the political status quo.

Boric, a tattooed former protest leader and lawmaker, marks a sharp departure from outgoing billionaire Sebastian Pinera. He has sparked hope among progressives as well as fears that Chile's decades of economic stability will come under attack.

The leader of a broad leftist coalition including Chile's communist party, he has vowed to overhaul a market-led economic model to fight inequality that sparked violent protests in 2019, though he as moderated his fiery rhetoric in recent months.

Boric's ascension marks the sharpest shift in Chilean politics since the country's return to democracy 30 years ago after the bloody dictatorship of General Augusto Pinochet.

Pinochet, whose shadow still looms large over the Andean country, ousted socialist President Salvador Allende, who committed suicide in 1973 during a military coup. Boric has often praised Allende's legacy.

"He reminds me of Allende, but I hope it has a happier ending," said Marigen Vargas, 62, who traveled all night to be at Boric's inauguration outside Congress in the port city of Valparaiso. "We want a more united, happier Chile."

Boric faces a raft of challenges from an economic slowdown, high inflation and a split legislature that will test his deal-making abilities to push through reforms in healthcare and pensions, while toughening environmental regulation.

Carlos Ruiz, an academic at the University of Chile who taught Boric, said Boric would have to deal with a rising ultra-conservative bloc that did well in elections last year and find consensus to push through his reforms.

"This is the task now ahead of Boric," he said.

Chile, a bastion of free markets and economic responsibility in volatile South America, finds itself at a crossroad. The country is also redrafting its Pinochet-era Constitution, which has underpinned growth but been blamed for stoking inequality.

Boric's female-majority Cabinet will be sworn in on Friday before he takes the presidential sash. Delegations from the United States, Spain, Argentina and others will be in attendance after meetings with Boric on Thursday.

"This is an era full of hope for the defense of society, young people, a green future and equality," tweeted Yolanda Diaz, Spain's second vice president who flew to Chile, referring to Boric's environmental and feminist agenda.

High hopes may quickly butt up against a divided electorate and legislature, split down the middle between the right and left. Bubbling issues of crime, immigration and indigenous rights mean Boric's government also has a full in-tray.

"I wish him success in his future government," Pinera said in his final address, but cited concerns about identity politics, weakening of the judiciary and crime. "But also the wisdom to distinguish right from wrong."