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President Petro Announces Pension Subsidy Increase

COLOMBIA
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • According to Bloomberg, President Petro's administration will almost triple transfers to the elderly to 225,000 pesos ($58) per month as part of a plan to expand social security protection, President Gustavo Petro reportedly said in Medellin.
    • Around 500,000 people older than 80 living in poverty will benefit from the increased subsidies.
    • The program has a fiscal cost of around 600 billion pesos. (BBG)
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  • According to Bloomberg, President Petro's administration will almost triple transfers to the elderly to 225,000 pesos ($58) per month as part of a plan to expand social security protection, President Gustavo Petro reportedly said in Medellin.
    • Around 500,000 people older than 80 living in poverty will benefit from the increased subsidies.
    • The program has a fiscal cost of around 600 billion pesos. (BBG)