Pedro Blanquier

Pedro Blanquier Teylletche (7 May 1885 – 15 January 1948) was a Chilean economist and civil engineer who served twice as Minister of Finance in 1931.

Political career

Blanquier first served as Minister of Finance for nine days, from 13 to 22 July 1931, after being appointed by President Carlos Ibáñez del Campo as a member of the cabinet known as the Gabinete de Salvación Nacional ("National Salvation Cabinet").

On 17 July, four days after taking office, Blanquier announced that the projected fiscal deficit for the year amounted to $145 million. He also announced the suspension of payments on Chile's external debt, as the country's gold reserves had been depleted and the debt service would consequently have to be financed using domestic currency. The announcement took place amid the economic and political crisis affecting the country during the final weeks of the Ibáñez administration.

Blanquier returned to the Ministry of Finance on 27 July 1931, following Ibáñez's resignation, when he was appointed by Vice President Juan Esteban Montero. He remained in office after Manuel Trucco succeeded Montero as vice president on 20 August, and left the ministry on 2 September 1931.

During Blanquier's second term, the government introduced a 30 percent reduction in public-sector and military remuneration as part of measures intended to address the fiscal crisis associated with the Great Depression and the decline of Chile's nitrate-dependent export economy. The measure was among the immediate causes of discontent preceding the Chilean naval mutiny of 1931, which began on 31 August. Blanquier left the Ministry of Finance the following day.

Before entering the cabinet, Blanquier had served as director of the Empresa de los Ferrocarriles del Estado (EFE). During his tenure, the state-owned railway company recorded a profit.