Chile

Chile's government has reached an agreement with residents of the Magallanes region of Patagonia to bring to an end a series of violent protests over a proposed 17% hike in gas prices. Mining and Energy Minister Laurence Golborne negotiated the settlement which cuts the increase to only 3%, and in addition provides further subsidies to poor families. While this bodes well for political stability in the short term, we expect similar protests to resurge over the coming year as food and fuel price inflation ticks

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