# Peru’s Congress Approves Bill for Pension Savings Withdrawals

> Peru's Congress approved a bill 107-4 letting workers withdraw up to 25% of their pension savings, about $8.7 billion. The government opposes the measure and warns it could raise borrowing costs. The sol and local bonds declined during the week as investors reacted.

- Date: 2020-04-04 · published 2020-04-04T12:00:00.000Z
- Category: policy · region Peru · magnitude low
- Page: https://feedsoft.ai/events/53922-peru-s-congress-approves-bill-for-pension-savings-withdrawals
- Commodities: [Peruvian Sol (PEN per USD)](https://feedsoft.ai/c/USDPEN.md)

## Why it matters

Possible forced selling of pension assets and weaker investor confidence put pressure on the sol, which raises the cost of dollar-priced imports for Peru. The effect on grain and feed prices is small.

## Read by commodity

- USDPEN: bullish ▲

## Sources

- amigosdeboliviayperu.org: http://amigosdeboliviayperu.org/NewsStories2020/P595PerusCongressApproves.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.