Amidst the recent political turmoil in Peru, a second pension withdrawal bill was passed through Congress and a similar plan is in the pipeline in Chile. While they would boost private consumption in the near term in both countries, the bills are a shift away from pragmatism and towards more populist policies in both countries. Elsewhere, Mexico’s state-owned energy company, Pemex, seems to be looking for creative solutions to its debt problem, suggesting a federal government bailout isn’t as assured as many assume.
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