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Local Assets Suffer On Mass Pension Withdrawal Proposal

CHILE
  • After backing three separate bills allowing people to withdraw 10% of the savings in their pension accounts, Deputy Pamela Jiles submitted a fourth bill today enabling them to take all their money out, up to a limit of about 40 million pesos ($55,600). The bill, which is opposed by the government, feeds concern that Chile is undermining the pro-market policies that have marked the past 40 years. (Bloomberg)

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