Uruguay to hold a referendum on lowering retirement age from 65 to 60 in pension reform.

Uruguay is preparing for a referendum on pension reform that proposes lowering the retirement age from 65 to 60. Supported by left-wing unions, the change aims to enhance workers' retirement benefits but raises concerns among investors about the country's financial stability. Critics warn it could increase public debt, complicate pension fund transfers, and jeopardize Uruguay's investment-grade credit rating, especially given its aging population.

October 11, 2024
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