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Emerging Markets’ Biggest Pandemic Spender Extends Emergency Aid

  • Chile to continue emergency payments to people until December
  • Latin American nation has spent 14.1% of GDP on Covid Aid: IMF
Sebastián Piñera
Sebastián Piñera

Chile will extend emergency cash payments to poor and middle-class families and introduce new subsidies as it looks to put the economic recovery on a firmer footing after multiple waves of the coronavirus.

The program will make final payment in December instead of October, the presidency said in a statement Tuesday. The cash transfers will reach almost 16 million people out of a population of about 19 million people, President Sebastian Pinera told reporters. The government also announced wage subsidies to help create 500,000 jobs.