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Peru Congress Approves Partial Withdrawals from State-run Pension Funds

RIO DE JANEIRO, BRAZIL - Peru’s Congress approved on Wednesday, November 2nd, the partial withdrawal of funds from its state-run pension system as a lifeline for Peruvians still reeling from the economic impact of the coronavirus.

In an overwhelming 87-21 vote, lawmakers greenlighted the proposal over the objections of interim President Francisco Sagasti, who earlier this week warned he would take the bill to the country´s Constitutional Court.

The vote comes just weeks after lawmakers approved two similar withdrawals from the country´s parallel, privately-run system.

Most Peruvians prefer the larger, privately-run pension system, but . . .

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