Peru to ‘Shield’ Pension Funds From Humala, Benavides Says
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Peru will seek to toughen laws to prevent presidential front-runner Ollanta Humala from tampering with $30 billion managed by private pension funds should he win next month’s election, Finance Minister Ismael Benavides said.
Benavides, in an interview, said he will seek support for the legislation at a Cabinet meeting today “to shield from government interference” the assets managed by units of Peru’s Credicorp Ltd, Spain’s Banco Bilbao Vizcaya Argentaria SA, ING Groep NV of the Netherlands, and Canada’s Bank of Nova Scotia.