I was reading an article in the Economist (a London based magazine), and I came across the following line in an article:
"With the United States at the fag-end of a disastrous presidency, Brazil assembled 33 countries from across the Americas to discuss a host of issues ranging from defence to the economic slowdown."
I thought fag meant cigarette. Can someone translate? I mean, in the context it sounds like it means tail-end. Or does it translate more like smoldering, like a cigarette.