RIO DE JANEIRO, BRAZIL – Chile’s Central Bank said on Friday, December 4th, that it will intervene to mitigate a possible uptick in market volatility with a second drawdown by citizens from their privately held pension funds, aimed at alleviating the economic impact of the coronavirus pandemic.
The bank said in a statement that the process, as happened with the first withdrawal approved in July, would result in “an important liquidation of assets” by the Pension Fund Administrators (AFP) to comply with the payments.
As a result, it said it would reopen programs deployed during the first citizen drawdown from . . .
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