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LatinNews Daily - 11 August 2021

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In brief: Chile further extends pandemic support

* Chile’s President Sebastián Piñera has announced a further extension to the ‘universal emergency family income’ (IFE universal) financial assistance scheme that was set up to help vulnerable families during the coronavirus (Covid-19) pandemic. The scheme, which benefits 90% of Chilean households and was initially due to last until September, has been extended until November. Piñera has also announced the creation of an emergency work income, dubbed the ‘IFE laboral’, to be paid to workers who find formal employment in 2021. The new monthly subsidy, available only to those who earn a salary that is equal to or less than three times the minimum wage, will be paid from September to December directly to workers on top of their salary. For women, who have been most affected by job losses during the pandemic, the subsidy will equal 60% of their income, with a monthly cap of Cl$250,000 (US$320.9), whilst for men the subsidy will equal 50% of their income, with a monthly cap of Cl$200,000. Finance Minister Rodrigo Cerda has said that the extension of the IFE universal and creation of the IFE laboral will cost the government some US$7bn.