Today it was informed that unemployed persons that withdrawal money from private retirements accounts (PRA) in Mexico double the number of 2008. In the first quarter of 2009 220,000 workers have used this benefit. The average amount withdrawn equals almost 300 US dollars. We have previously stated that it is important to create unemployment insurance in order to protect workers during economic downturns. The use of PRA can help but is not the ideal mechanism.
See complete note at El Universal.
Thursday, April 16, 2009
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