A Chile reception
Chile's President Michelle Bachelet has told Gordon Brown that her country put aside money in the good times in order to spend in the bad.
It is a boast with uncanny echoes of exactly what David Cameron says Britain should have done but did not.
The President's words came at a joint news conference in Santiago after Gordon Brown became the first British prime minister ever to visit Chile.
I've no doubt she was unaware how unwelcome her words would be to her visitor. I've also no doubt that they will be seized on by the Tories to say "I told you so".
This is ironic since President Bachelet is a socialist and an admirer of Gordon Brown. Today she warmly welcomed his leadership of the G20 and his efforts to seek a global solution to global economic problems.
He is also an admirer of hers. She has spent much of this country's copper wealth on relieving poverty, investing in public services and improving education. .
At their news conference President Bachelet called on the G20 to agree to a co-ordinated fiscal stimulus next week.
I asked her whether, in fact, Chile could afford to spend more whereas Britain could not. In reply she said that that because of decisions her country had made in the good times the country was able to spend in the bad.
Ever since the fall of the Pinochet dictatorship in 1990 Chile has grown by an average of 5% a year (until the last few months, that is).
The country set up two sovereign wealth funds to save and later invest the proceeeds of that growth. The country has run a series of budget surpluses and wiped out its national debt. Fiscal responsibility is also enshrined in law.