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Chilean Financial Minister: Pinera to Impose Austerity But Not 'Mega-adjustments'

Chile's new government is preparing belt-tightening measures after inheriting a larger-than-anticipated fiscal deficit from its predecessor, but the measures will stop short of "mega-adjustments," Finance Minister Felipe Larrain said on Monday. Conservative billionaire Sebastian Pinera took office on Sunday vowing to combat economic "stagnation" and calling for a return to "fiscal equilibrium" as he seeks to transform Chile into a developed nation within...

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