Michael Kast Rist, commonly known as Miguel Kast, was a German economist of the Chicago Boys group. He served as Minister of State and President of the Central Bank under the dictatorship of Augusto Pinochet. In his youth, he was a member of the Christian Democratic Party.

An authoritarian military dictatorship ruled Chile for seventeen years, between 11 September 1973 and 11 March 1990. The dictatorship was established after the democratically elected socialist government of Salvador Allende was overthrown in a coup d'état backed by the United States on 11 September 1973. During this time, the country was ruled by a military junta headed by General Augusto Pinochet. The military used the breakdown of democracy and the economic crisis that took place during Allende's presidency to justify its seizure of power. The dictatorship presented its mission as a "national reconstruction". The coup was the result of multiple forces, including pressure from conservative groups, certain political parties, union strikes and other domestic unrest, as well as international factors.