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Fearing default, Argentina moves to nationalize private pension funds
10/24: Argentina's President Cristina Fernandez de Kirchner proposed legislation Tuesday to nationalize the country's private pension funds—known in Spanish as AFJPs—in an attempt to stave off a new government default on its debt. It is expected that Congress, controlled by the Fernandez's Peronist party and its allies, will pass the measure in the next several days.
10/24: Argentina's President Cristina Fernandez de Kirchner proposed legislation Tuesday to nationalize the country's private pension funds—known in Spanish as AFJPs—in an attempt to stave off a new government default on its debt. It is expected that Congress, controlled by the Fernandez's Peronist party and its allies, will pass the measure in the next several days.
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