LatinNews Daily - 26 April 2021

In brief: Peru authorises unemployment insurance withdrawals

* Peru's President Francisco Sagasti has promulgated a law authorising employees in the formal sector to withdraw up to 100% of their unemployment insurance savings (CTS), following the unicameral legislature vote on 31 March to approve such withdrawals. The decision is the latest in a series of emergency measures  designed to alleviate the economic impact of the coronavirus (Covid-19) pandemic. Through the CTS, employers make biannual payments into a protected pot, which is made available to employees at the termination of employment. Employees enrolled on a CTS scheme will now be permitted to withdraw as much of those funds as they wish, until 31 December 2021 when the CTS deposits are to be ringfenced once again. 

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