Tuesday, March 02, 2010

Is Chile's new president ready to deal with an earthquake's aftereffects? - washingtonpost.com

Is Chile's new president ready to deal with an earthquake's aftereffects? - washingtonpost.com: "Fortunately, Chile is better prepared than most other nations to handle a crisis of this kind. It scrupulously saved some of the bounty from its copper exports when prices were high in recent years, and as a result it has a rainy-day fund of nearly $15 billion to draw on. (One initial estimate put the damage at $15 billion to $30 billion; the latter figure is about 15 percent of the country's gross national product.) Chile's government debt is low, and its free-market economy is flexible and able to respond quickly."

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