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Senate To Vote On Third Pension Withdrawal

CHILE
  • Chile's Senators will vote from 0900 local time on a bill to allow a third pension withdrawal.
    • For reference, the government will appeal to the constitutional court if the bill promoting a third withdrawal of pension funds is approved by the senate, President Sebastian Pinera said at a recent press conference.
  • USDCLP consolidated fresh Peso gains sub 700, further highlighting the 693 level as the main short term target. Analysts continue to signal further gains for copper, despite concerns over the uneven global recovery as India stumbles.
  • Separately, Chile to sell $354m in CPI-linked bonds due 2028 and 2033.
  • Yesterday - *Chile Lower House Backs Base Text Of Wealth, Corporate Tax Bill
    • Deputies approved with 105 votes in favour, 18 against and 26 abstentions a bill that allows a one-time tax of 2.5% on individual fortunes of more than $22 million and a temporary increase in the corporate rate to 30% from 27%.
    • The bill will now face another vote at the commission level before moving to the senate. (BBG)

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