Bachelor of Civil Engineering summa cum laude, Catholic U., Valparaiso, Chile, 1963; Master of Science in Economics, University of Wisconsin, 1966; Doctor of Philosophy in Economics, University of Wisconsin, 1970.
He was the Foreign Minister of Chile from 2006 to 2009 and previously served as Minister of Finance from 1990 to 1994 and leader of the Christian Democrat Party from 1994 to 1996. Foxley has taught at various universities including the University of Sussex in 1973, Oxford University in 1975, Massachusetts Institute of Technology in 1978, University of California, Berkeley in 1981, University of California, San Diego in 1985 and the University of Notre Dame. He has written thirteen books on economics and the problems of democracy.
Foxley was appointed to the first Chilean cabinet after the restoration of democracy by Patricio Aylwin.
He served as Minister of Finance from 1990 to 1994 and is regarded as one of the architects of the strong economic growth of the period. As Finance Minister he was also a governor of the Inter-American Development Bank and the World Bank.
Following his period as Finance Minister Foxley was elected leader of the Christian Democrat Party in 1994, serving until 1996. In the Senate he was the Chairman of the Finance Committee for four years until he stood down from the Senate in 2006.
During his period in the Senate he was seen as a possible Presidential candidate but backed the candidacy of Michelle Bachelet in the Presidential election.
Bachelet appointed him as Foreign Minister in March 2006 following her victory in the election. In March 2009 Foxley resigned as Foreign Minister for personal reasons and to pursue other interests.
Member Inter-American Dialogue (member Executive Committee since 1987), International Economics Association(member Executive Committee 1984-1987), Latin American Social Science Council (member Executive Committee 1976-1984), World Association International Rels.
Married Gisela Tapia. Children: Alejandro, Susana.