According to the World Bank Report Chile has been one of South America’s fastest-growing economies in recent decades. Following neo –liberal reforms in 1980s and 1990s — lowering Taxes ,cutting public benefits and taking a host of other reforms setting stage for economic renaissance, enabled the country to reduce the population living in poverty (on US$ 5.5 per day) from 30 percent in 2000 to 6.4 percent in 2017. with a brief sluggish growth (1.3%)in 2017,the economy bounced back in 2018 to 4percent.The lower interest rates and higher copper prices revitalized mining production and gave great impetus to the economy.
The central government debt declined for the first time in six years, from 2.7 percent of GDP in 2017 to 1.7 percent in 2018 due to increased revenue.
Despite facing various challenges in different forms Chile Government is making efforts to rationalize the tax system, facilitate employment mobility, improve the pension system , facilitating the linkage between education and lobour market, and strengthening the financial system to maintain growth and any vulnerability to external risks..
On the social front the Governmentt is enhancing the quality of health and education to women for their participation in labour market to alleviate poverty amongst the middle class.
The World Bank helps the Chile Government in implementing a technical and financial assistance programme in areas with a strong impact on development.
For instance in last four years The World Bank has done nearly 30 studies in areas of higher education, health, water, institutional development and land development.
The Financial assistance to the tune of USD50 million dollars to strengthen Public universities and thus put a heavy thrust on higher education.
The number of full-time faculty members who hold PhDs has increased from 5,109 in 2011 to 7,883 in March 2016. Additionally, studies by World Bank experts provided input for key changes in legislation to improve the accreditation quality assurance system and the accountability of institutions,
Additionally, the World Bank is providing USD500million as financial protection for natural disasters like earthquake risks.
The Bank has funded project supported the design of over 45 regional plans, 250 infrastructure projects like roads, water and sanitation, energy and other productive activities in different regions of the country. Approximately 320,000 people benefited from improved infrastructure, land planning and implementation of development programmes.
International Finance Corporation has also helped the country in focussing on the activities with a strong potential for development with reference to small and medium-sized industries, energy, education and agribusiness.
Around 80 ,000 teachers went on strike seeking reform in the education system,as the Chilean law does not ensure education as public right ,hence the private sector exploits the admissions etc through voucher system thus depriving the poor ones from acquiring the rightful education.
Despite all such social drawbacks Chile is on the economic upswing.
Descendants from Nazis
The Germany Interior minister Horse Seehofer in.” a statement said “Germany must live up to its historical responsibilities, He wanted to help people whose parents or grandparents had to flee.” “with the legal degrees which come into force from Friday we will create a swift ruling that is immediately valid for these people to get German Citizenship.” He continued.
Germany will enforce two decrees to make it easier for people, mainly Jews, who fled ,between 1933 and 1945, to Britain, the Nazi regime because of persecution, as well as their descendents to have their German citizenship restored.
The Brexit decision fuelled the campaign by the descendents whose applications for German citizenship have been rejected despite constitutional guarantees provided by the law.
Article 116 (2) of Germany’s Basic Law denotes that former German citizens and their descendents between 1933 and 1945 deprived of their citizenship on political, racial or religious grounds can have their citizenship restored.
Germany currently received more than 1,500 applications from Britain under Article 116 in both 2017 and 2018 and are keen to give their assent to the same thus make amends for the historical mishap.