Chile faces a somewhat bleak Christmas, with rising unemployment and rampant inflation ... estimated to?
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GV Shoppers in street TILT UP TO Xmas decorations (2 shots)
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GV Shoppers in street
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Background: Chile faces a somewhat bleak Christmas, with rising unemployment and rampant inflation ... estimated to be fast approaching six hundred per cent for the year.
The state of Chile's economy, s judged in a secret report by the World Bank, shows that since former President Allende was killed in a military uprising for alleged economic failures, the situation has got worse instead of better.
The World Bank criticises the military leaders for economic mismanagement, and of wasting money on excessive military spending.
Earlier this year there were an estimated 1,500,000 Chileans out of work, and with the absence of unemployment insurance, they were destitute.
Prices for most consumer goods have skyrocketed.