Colombia is the latest Latin American country considering a plan to let workers tap private pension savings, a move intended to soften the slump in consumer spending but which risks worsening some of the world’s deepest stock market slumps.
Chilean senators on Wednesday voted to approve a controversial bill that allows citizens to withdraw 10% of their pension savings to help ease the economic impact of the coronavirus outbreak.
Protesters in Santiago defied a citywide lockdown meant to combat the spread of the coronavirus, barricading roads and looting early into the morning on Wednesday in support of a proposal to allow Chileans to withdraw part of their pensions amid the crisis.
Chilean lawmaker launched hundreds of internet memes on Wednesday when she ran through congress wearing a pink cape and waving matching fans to celebrate passage in the lower house of a coronavirus emergency aid measure.
Far-right Brazilian president Jair Bolsonaro’s new government wants to save 1 trillion Rreais (some US$ 269.48 billion) over 10 years via pension reforms economists say are vital to undo the growing fiscal deficit, a Brazilian newspaper reported on Monday.