Word: chiles
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Inflation has dealt a harder blow to South America than to any other region in the world. Of the 86 nations in the U.N.'s global cost-of-living index, Bolivia is in first place. Chile is second, Brazil and Argentina rank high. "A fire burning down our house," Bolivia's President Hernan Siles Zuazo calls inflation. "We will be lucky...
...Chile 30 years ago plumped for social security modeled on advanced West European systems. Now an elaborate scheme with such frills as pensions at 100% of pay, social security costs 28% of the budget...
...dropped into Santiago, Chile last Sunday. It dropped rather far, and was wearing a parachute...
...basis the U.S. saves 17%, the same as France, and slightly more than Britain's 15%. But West Germany saves 22%, Canada 24%, Peru 21%, Austria 24%, Iceland 31%, Norway 29%, Israel 22%, Japan and Italy 20%, the Federation of Rhodesia and Nyasaland 34%. On the other hand, Chile saves only 8%, the Philippines 7%, Indonesia 5%, and many other underdeveloped countries even less. A rule of thumb is that any country with a rising population must save at least 10% of its current production for investment if it hopes to make progress in raising the living standard...
...date. The fund gave temporary first aid to the slumping reserves of countries "with rather ambitious development programs" (Argentina, Denmark, France, India, Japan, The Netherlands). It eased seasonal trade deficits in countries with only one major export crop (Cuba, Honduras, Nicaragua, El Salvador). It backed programs in Latin America (Chile, Colombia, Bolivia, Paraguay, Peru) to simplify systems of multiple exchange rates that threaten trade stability by favoring some foreign customers at the expense of others...