Business Services Industry
Senate blocks bill to allow funds to invest abroad.
Internet Securities, May, 2002
MEXICO CITY, May 29, 2002
Senate opposition narrowly blocked the commission approval of a reform already passed by the Chamber of Deputies to allow pension fund administrators (Afores) to invest abroad. During a meeting of the commissions on Treasury, Health, Retirement and Legislative Studies, senators from the Institutional Revolution Party (PRI) and the Democratic Revolution Party (PRD), as well as some from the National Action Party (PAN) agreed that it was important to do a study of Mexico's social security system before approving the reform.
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Copyright 2002 Internet Securities, Inc., all rights reserved. A Euromoney Institutional Investor Company.
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