Argentina Faces $1 Billion Pensions Bill Increase

Argentina is to increase its minimum pension by 20% and all other pensions by 11%, adding around $1 billion to its annual pension bill. As from June 1, the monthly pension will rise from around $127 to $154. This is the eighth time President Nestór Kirchner’s government has increased pensions in the past three years and analysts are worried the rise will spur inflation.