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Chile was working on lowering its deficit and was able to do so by adopting tough fiscal policy.

"The treasury Ministry is in charge of the fiscal policy of Chile. The State Secretary is responsible of maintaining the equilibrium in the fiscal accounts.

Between 1996 and 1999, Chile has adopted a uniquely expansive model for its fiscal policy in order to finance the ambitious social policy adopted by the Concentration Governments which resulted in the first fiscal deficit in 13 years. Chile took the record profits from the mining of copper and other minerals and saved them for potential economic uncertainty. The foresight allowed Chile to withstand the global economic crisis better that most countries around the world.

Adopting this policy has lowered Chile's deficits, increased revenue and mostly shielded it from further economic hardships during the global downturn."

Source:http://www.chile.com/tpl/articulo/detalle/ver.tpl?cod_articulo=1647"Government Fiscal Policies" is a difficult qualitative factor to defend, so competing institutions will have an easy time overcoming it.