According to IMF projections through 2031, the neighbor's economy will outpace Chile's growth in seventeen of the next nineteen years. This pace will allow it to catch up with Chile this year and then surpass it thereafter. In 2013, Chile moved into the fourth‑largest spot in South America after Venezuela's decline, behind Brazil, Argentina and Colombia. The forecast suggests that Chile will lose that position to the neighboring country within the projected period. The change is based on the comparative growth rates outlined by the IMF.