Chilean President Sebastian Pinera on Friday signed into law a plan to allow citizens to withdraw 10% of their pensions savings as people queued at the administrator's offices in Santiago eager for relief from the economic effects of the coronavirus.
SANTIAGO - Chilean President Sebastian Pinera on Friday signed into law a plan to allow citizens to withdraw 10% of their pensions savings as people queued at the administrator’s offices in Santiago eager for relief from the economic effects of the coronavirus.
The Office of the President said Pinera had signed the bill late on Friday but made no comment on its content. Economists say that Chile’s battered economy could get a short-term boost, with a total estimated $16.65 billion potentially being unleashed for consumption, according to think tank Ciedess.
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