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Thursday, May 02, 2013

Budget cuts prompt Chile to reassess defense buys

A-36 Halcón |Chile's budgetary constraints are coming in the way of what began as an ambitious defense refurbishment and regeneration program with multibillion-dollar purchase plans.

Chilean President Sebastian Pinera, faced with swings in approval ratings after student turmoil last year, is said to be having second thoughts on major acquisitions for the military, in particular the air force.

Chile embarked on an ambitious defense modernization program, taking the cue from neighboring Brazil's emerging arms industry. Economic developments, including reduced growth forecasts, slowed the pace of the Brazilian defense program but Brazilians say the glitch is temporary.

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