Argentina’s lower house voted to approve President Christina Kirchner‘s plan to nationalize $26 billion in private pensions. A 162 to 75 vote by legislators will send the bill to two senate committees for consideration next week. A full senate vote will take place on November 20.  The plan has been controversial, sparking protests and discussion all over the country. Nationalizing the funds would give the government a surge of continuing revenue at a time of uncertain economic growth. Javier Kulesz, an economist at UBS Pactual in Buenos Aires, said the plan would allot $4.5 billion in new contributions next year.
Via: Bloomberg
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