Argentine Supreme Court Seeks Data on Social Security Funds

Argentina’s Supreme Court ordered the country’s social security agency to provide details of its pension funds and how they are invested, according to the Judiciary Information Center’s website.

The seven-member court also gave the agency 30 days to provide information on lawsuits it’s facing along with details of spending and debts, according to a posting on the website. The court’s order is part of a lawsuit brought by the country’s ombudsman against the federal government.

The judges said they need up-to-date data from the agency as they first sought the information in May 2011 and had since decided to ask for further details, the website said.

President Cristina Fernandez de Kirchner yesterday announced a plan to build 400,000 new homes in four years that will be partly financed by the pension agency.

Since the government nationalized about $24 billion in private pension funds in 2008, the security agency has been responsible for the management of the funds, which totaled 209 billion pesos ($46.6 billion) in the first quarter of this year, according to the latest report.

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