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Discussions On Fourth pension Withdrawal, BHP Reach Prelim. Wage Deal

CHILE
  • Chile's constitutional committee at the lower house will begin the debate over a fourth round of pension fund withdrawals, even after the government announced new aid to confront the pandemic.
    • As a reminder the Chilean govt are to extend emergency cash handouts until December while announcing wage subsidies to boost employment and help for small businesses.
  • Elsewhere, BHP Group reached a preliminary wage agreement with union leaders at Escondida in Chile, greatly reducing the risk of a strike at the world's biggest copper mine.
    • The accord between the two negotiating teams still needs to be ratified by the 2,300 union members, the Melbourne-based company said in a statement late Tuesday.
    • Terms will be put before workers, for which the two sides requested a two-day extension of government mediation. (BBG)
  • *Today, Chile's Treasury will sell in pesos the equivalent to ~$449m in 21-month bills, ~$180m in nominal bonds due in 2030, and ~$134m in CPI-linked bonds due in 2033.
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