Labor & Economic News Blog
Friday, October 31, 2008
Argentina To Nationalize Pensions
Argentina To Nationalize PensionsNPR audio:
The global economic slowdown means resource-rich South America doesn't need to produce as much oil, soy or copper. That's hurt Argentina particularly hard because it's been used to high prices for its exports. Now, the government is nationalizing nearly $30 billion in pensions. Critics say it's because officials want to raid the system for much-needed cash.
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