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Montevideo, March 27th 2023 - 04:23 UTC

 

 

Argentina has too many pensioners, according to an IMF report

Monday, April 18th 2022 - 08:37 UTC
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Guzmán is planning new taxes and measures to fight inflation and avert pressure for his dismissal Guzmán is planning new taxes and measures to fight inflation and avert pressure for his dismissal

A recent report by the International Monetary Fund (IMF) has underlined the fact that Argentina has a larger proportion of citizens earning pensions when compared to other countries in the world.

 The IMF document also stressed many of those allowances were disproportionately high when compared to wages of active workers in OECD (Organization for Economic Cooperation and Development) countries, which include the United States, Germany, Italy, Japan, and Spain.

The report is dated March 25 and is attached to the understanding between Argentina and the financial agency, but its contents made the headlines in Argentina over the weekend. Argentina and Brazil are both vying to join the OECD.

According to the IMF, Argentina's high pension expenditure is linked to “broad coverage and generous benefits”. The number of pension beneficiaries represents 140% of the population over 65 years of age while in OECD countries it is 109%.

The IMF suggested raising the retirement age, which is currently 65 years for men and 60 years for women, in addition to reducing the number of beneficiaries as well as eliminating moratoriums (programs whereby people who have not contributed in full or in part to their retirement funding are granted a stipendium from which the missing contributions are deducted).

The agency also highlighted that the average value of pensions as a percentage of active salaries exceeded 90% versus 58% in OECD countries, due to the existence of special regimes, both at federal and provincial levels.

The resurfacing of such a report has drawn concern amid Argentines nearing their retirement ages, particularly at a time when Economy Minister Martín Guzmán is said to be preparing a new batch of measures to fend off pressure from within the ruling Frente de Todos (FdT) to have him replaced.

Guzmán is planning a new tax on unexpected revenues and other initiatives to curb inflation, which is way above target figures. In a country where pensions are handled by the state agency ANSES, fewer beneficiaries mean less funding is required.

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  • Vladimir

    Do people not deserve their pension after a hardworking life of many, who worked in agriculture, construction...? I would really like to see the hands of those from IMF and compare them with the bricklayers´ ones. And those estúpidos want to raise the pension age even more? Are people just robots for them or what? I suggest no pension for the politicians and bankers and no salary after the age of 55, because by then most of them are so rich they do not need any more money... I am not communist nor marxist, it is just a view from a former communist country in Central Europe. Too many pensioners - what an awful statement, who is so money hungry in IMF? Who does not have enough? Who has a war within his/her heart and despises people? No wonder we have a war against humanity on our hands, because there are “too many” of us on the planet... right? What a hellish, satanistic view of life. Those people must live their own hell already now even before they come to hell after their death (if they do not turn to God completely and do not accept Jesus Christ as their Savior...)

    Apr 19th, 2022 - 11:17 am 0
  • imoyaro

    What do you expect from a nation of Chantapufis?

    Apr 21st, 2022 - 02:04 pm 0
  • Vladimir

    Hello Imoyaro,

    I think this is not a problem of Argentine population but the problem of the IMF which is commanding so many nation of the world and extorting them in their poverty. Ask the Africans, how IMF is swindling different countries off their money, suggesting terrible solutions to their financial problems, like reducing population through abortions, etc. That is not what God wants...

    Apr 21st, 2022 - 04:22 pm 0
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