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Line 345: Bachelet was widely credited for resisting calls from politicians from her own coalition to spend the huge copper revenues to close the country’s income gap.<ref name="nytimes1"/><ref>{{cite news\|last=Rohter\|first=Larry\|url=https://www.nytimes.com/2007/01/07/world/americas/07chile.html\|title=Chile Copper Windfall Forces Hard Choices on Spending\|location=Chile\|publisher=Nytimes.com\|date=7 January 2007\|accessdate=10 September 2011}}</ref> Instead in 2007 she created the Economic and Social Stabilization Fund, a [[sovereign wealth fund]] which accumulates fiscal surpluses which are above 1% of [[GDP]].<ref>{{cite web\|url=http://www.swfinstitute.org/fund/chile.php\|title=Sovereign Wealth Fund Institute - Social and Economic Stabilisation Fund - Chile\|publisher=Swfinstitute.org\|accessdate=10 September 2011}}</ref> This strategy allowed her to finance new social policies and provide economic stimulus packages when the 2008 financial crisis hit the country.<ref name="nytimes1"/> During Bachelet’s four years in office the economy grew at an average of 3.3% (2.3% in per capita terms), with a high of 5.7% in 2006 and a negative growth of −1.0% in 2009, due to the global financial crisis. The [[minimum wage]] was increased at an average of 2% per year in real terms (the lowest of any president since 1990), while unemployment hovered between seven and eight percent during her first three years and rose to nearly 11% during 2009. Inflation averaged 4.5% during her term, reaching close to 9% during 2008, due to an increase in food prices.<ref>{{cite web\|url=http://www.imf.org/external/pubs/ft/weo/2012/01/weodata/weorept.aspx?pr.x=19&pr.y=9&sy=2005&ey=2009&scsm=1&ssd=1&sort=country&ds=.&br=1&c=228&s=NGDP_R%2CNGDPRPC%2CPCPI%2CLUR&grp=0&a=\|title=Report for Selected Countries and Subjects\|work=World Economic Outlook Database\|date=April 2012\|publisher=[[International Monetary Fund]]\|accessdate=14 May 2012}}</ref> Absolute poverty fell from 13.7% in November 2006 to 11.5% in November 2009.<ref>{{cite web\|url=http://www.cepal.cl/publicaciones/xml/9/41799/PSE-panoramasocial2010.pdf\|title=Panorama social de América Latina\|work=[[ECLAC]]\|year=2010}}{{dead link\|date=December 2017 \|bot=InternetArchiveBot \|fix-attempted=yes }}</ref> ====Political issues==== Line 651: [[University of Paris III: Sorbonne Nouvelle]] (November 2010).<ref>{{cite web\|url=http://www.univ-paris3.fr/65561474/0/fiche___pagelibre\|title=Université Sorbonne Nouvelle - Paris3 - Docteur Honoris Causa 2010 de l'Université Sorbonne Nouvelle\|publisher=Univ-paris3.fr\|accessdate=13 September 2011}}</ref><ref>{{cite web\|author= \|url=http://noticias.latino.msn.com/internacionales/articulos.aspx?cp-documentid=26294634 \|title=La ex presidenta chilena Bachelet, doctora honoris causa por la Sorbona - Noticias internacionales en MSN Latino \|publisher=Noticias.latino.msn.com \|accessdate=13 September 2011 \|deadurl=yes \|archiveurl=https://web.archive.org/web/20120402110217/http://noticias.latino.msn.com/internacionales/articulos.aspx?cp-documentid=26294634 \|archivedate=April 2, 2012 }}</ref> [[Columbia University]] (May 2012).<ref>{{cite web\|url=http://www.unwomen.org/2012/05/michelle-bachelet-2012-commencement-speech-at-columbia-university-mailman-school-of-public-health\|title=Michelle Bachelet 2012 Commencement Speech at Columbia University Mailman School of Public Health\|date=12 May 2012\|accessdate=6 August 2012}}</ref> [[Katholieke Universiteit Leuven]] (June 2015).<ref>{{cite web\|url=http://www.kuleuven.be/english/news/patron-saints-day-2015-ku-leuven-confers-5-honorary-doctorates\|title=KULeuven\|publisher=KULeuven.be\|accessdate=3 February 2015\|deadurl=yes\|archiveurl=https://web.archive.org/web/20150203183811/http://www.kuleuven.be/english/news/patron-saints-day-2015-ku-leuven-confers-5-honorary-doctorates\|archivedate=3 February 2015\|df=}}</ref> [[University of Évora]] (March 2017).<ref>{{cite web \|url=http://expresso.sapo.pt/internacional/2017-03-30-Presidente-chilena-recebe-doutoramento-Honoris-Causa-em-Evora \|title=Presidente chilena recebe doutoramento Honoris Causa em Évora \|access-date=30 March 2017 \|publisher=Expresso \|language=pt}}</ref> Line 661: {{flag\|Australia}}: [[Companion of the Order of Australia]] (Honorary) (5 October 2012).<ref>{{cite web\|url=http://www.gg.gov.au/sites/default/files/files/honours/S160%20-%20Oct%202012.pdf \|publisher=Governor General of Australia \|title=Commonwealth of Australia Gazette No. S160 \|accessdate=7 November 2012 \|deadurl=yes \|archiveurl=https://web.archive.org/web/20121207041916/http://www.gg.gov.au/sites/default/files/files/honours/S160%20-%20Oct%202012.pdf \|archivedate=7 December 2012 \|df= }}</ref> {{flag\|Spain}}: Collar of the [[Order of Isabella the Catholic]] (26 February 2010).<ref>{{cite web\|url=~~https://web.archive.org/web/20150402120147/~~http://www.boe.es/boe/dias/2010/02/27/pdfs/BOE-A-2010-3212.pdf\|title=Wayback Machine\|date=2 April 2015\|publisher=\|accessdate=9 December 2017\|deadurl=bot: unknown\|archiveurl=https://web.archive.org/web/20150402120147/http://www.boe.es/boe/dias/2010/02/27/pdfs/BOE-A-2010-3212.pdf\|archivedate=2 April 2015\|df=}}</ref> Collar of the [[Order of Charles III]] (30 October 2014).<ref>{{cite web\|url=~~https://web.archive.org/web/20150110211735/~~http://www.boe.es/boe/dias/2014/10/25/pdfs/BOE-A-2014-10888.pdf\|title=Wayback Machine\|date=10 January 2015\|publisher=\|accessdate=9 December 2017\|deadurl=bot: unknown\|archiveurl=https://web.archive.org/web/20150110211735/http://www.boe.es/boe/dias/2014/10/25/pdfs/BOE-A-2014-10888.pdf\|archivedate=10 January 2015\|df=}}</ref><ref>[https://web.archive.org/web/20150125045224/http://www.google.com/hostednews/getty/media/ALeqM5jFn883YOl3o3fUr-xkdDuQOzk_FA ]</ref> {{flag\|Netherlands}}: Knight Grand Cross of the [[Order of the Netherlands Lion]] (25 May 2009)<ref>{{cite web\|url=http://gpdhome.typepad.com/.a/6a00d8341c648253ef01156fb58598970c-pi \|title=Photographic image \|website=Gpdhome.typepad.com \|accessdate=2016-12-14}}</ref> {{flag\|Portugal}}: Order of Prince Henry (7 November 2007) Line 685: {{Wikisource author}} {{Wikinews\|Chile elects first woman President}} [~~http~~https://~~www~~web.archive.org/web/20140208015013/http://michellebachelet.cl/ Official presidential campaign site] {{es icon}} [http://www.cidob.org/es/documentacion/biografias_lideres_politicos/america_del_sur/chile/michelle_bachelet_jeria Biography by CIDOB Foundation] {{es icon}} *[http://news.bbc.co.uk/1/hi/world/americas/4087510.stm "The woman taking Chile's top job"] (BBC News)