Argentina Congress passes pension reform after protests, clashes
Argentina’s Congress passed a reform to the pension system early on Tuesday, after days of demonstrations by the bill’s opponents and violent clashes between protesters and police gripped the South American country.
The reform, which is crucial to President Mauricio Macri’s efforts to slash the fiscal deficit and attract investment, changes the formula used to calculate benefits by linking them to consumer prices at a time of lower inflation expectations.It passed the lower chamber of deputies after an all-night debate session by a vote of 128-116, with two abstentions. The Senate had approved the proposal last month.
The measure has generated fierce criticism from opposition lawmakers and labor unions, who say it will hurt retirees. It was initially slated for debate last Thursday, but the session was suspended after police fired rubber bullets and tear gas at demonstrators outside the capitol.
