Tall, thin, copper-rich Chile can often appear an anomaly in South America. Rather than picturesque Andean highlands, kaleidoscopic indigenous groupings, ponchos and pan-pipes that draw shoals of Gap Year students from across the world, it brings to mind images of a glistening economic success story, gleaming skyscrapers in Santiago and a haven of stability among more »
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Egypt is in deep troubles – its fuel subsidy bill is unsustainable reaching almost 30 percent of government expenditure, its foreign reserves have reached a critical level ($13,5bn), negotiations with the IMF are not running well, and there is, literally, no money left to finance its consumption of subsidised fuel, particular diesel which is already rationed. Egypt has to act, now, or it falls apart. But why government officials are so hesitant to reform an unsustainable subsidy system, although the country really hasn´t got another choice?