World’s Worst Stock Market Risks More Pain From Pension Selling
- Colombia proposes allowing workers to tap retirement savings
- Colcap index has dropped 40% as foreigners sold equities
This article is for subscribers only.
The world’s worst-performing stock market this year is at risk of an even steeper drop from a proposal to let Colombians tap pension savings during the coronavirus crisis.
The government has held talks with private pension funds regarding an “important proposal” that would allow workers to draw down their retirement accounts, Finance Minister Alberto Carrasquilla told lawmakers Wednesday.