Dominican Republic governor opposes ‘inadmissible’ pension proposal
Allowing workers to withdraw savings could create long-term crisis, Héctor Valdez Albizu warns
The governor of the Central Bank of the Dominican Republic, Héctor Valdez Albizu, has strongly criticised a proposed law that would enable workers to withdraw up to 30% of their pension funds.
The proposed law risks stoking inflation and exchange rate instability and could jeopardise the government’s ability to provide fiscal stimulus to fight the coronavirus, Albizu warned. In addition, it may leave people needing to work an additional four years to fund their retirement, he said.
Albizu
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