IMF criticises Chilean pension withdrawals

Central Bank of Chile
Photo: Central Bank of Chile/Flickr

The International Monetary Fund has criticised a programme of pension withdrawals in Chile and urged authorities to halt an ongoing liquidation of annuities.

“The funded pension system that has been instrumental in market deepening is under threat due in part to a series of withdrawals,” the IMF says in a financial stability report on Chile, published on December 9. The IMF’s stance aligns with that of the Central Bank of Chile, which has warned several times in recent months that pension

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