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Significance
Chile argues that the verdict represents no tangible loss. However, it is a rebuff to Chilean diplomacy, particularly following the ICJ's decision last year establishing a new maritime frontier between Peru and Chile that favoured the former.
Impacts
The case may prove awkward to adjudicate given the difficulty of reaching any compromise solution.
The ruling will further undermine the Chilean government's shaky approval ratings.
In Bolivia, it may temporarily offset some of the negative signals facing President Evo Morales.
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2015
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