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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Global Banking and Finance Review

    Posted on February 3, 2025

    Featured image for article about Finance

    By Rodrigo Garrido and Alexander Villegas

    VALPARAISO, Chile (Reuters) - Carlos Vidal is still shoveling rubble that used to be his home a year after the deadliest wildfires in Chile's history tore through his neighborhood and the coastal cities of Valparaiso and Vina del Mar, killing 137 people.

    Vidal, 63, says he signed up to receive government housing but got no response, so he has been slowly rebuilding his home, aided by a government bonus, on the ashes of his previous one. 

    Buildings scarred by the fire still surround Vidal's home and many residents, including a local mayor, have complained that the government has not done enough to aid the rebuilding effort.

    "The fire victims say they have no clarity on what their housing situation is going to be, they don't know the time frame or how it's going to be done," said Carolina Corti, the mayor of Quilpue, a commune in the Valparaiso region. 

    On Sunday, the anniversary of the fires beginning on Feb. 2, hundreds of residents blocked a road separating the two cities to demand more government action.

    "It's been one year and we have no solution," said Renato Tapia, one of the protesters on Sunday, adding that he has had all the documents needed to begin reconstruction since March.

    "This is an older population, a lot of retirees," Tapia said. "Our situation is critical."   

    In a statement on Friday, Chile's ministry of housing and urbanism acknowledged that reconstruction had been slow and said it aimed to speed up the process.

    "Finishing a house takes longer than a year. We always set a time frame to a year and a half, two years. Life shows us it takes up to three years," Minister Carlos Montes said, adding that the process would speed up now that they had built a solid foundation.

    The ministry noted that out of the 3,043 affected families, 626 had a subsidy and 636 were in the process of receiving one, meaning 41% of families were in "some stage of reconstruction."

    It added that 78 families had a permanent housing solution while 320 houses were being built, 228 were scheduled to begin and plans to house 685 families were being drawn up.

    (Reporting by Rodrigo Garrido in Valparaiso and Alexander Villegas in Santiago; Editing by Alison Williams)

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