LatinNews Daily - 11 August 2022

In brief: Argentina boosts pension pay

* Argentina’s Economy Minister Sergio Massa has announced a 15.53% increase in all pensions from September, which he said will benefit more than 16m people. In addition to this increase, Massa also announced a monthly bonus in September, October and November for those on low pensions. The extra payments will equal AR$7,000 (US$52) per month for those who receive one minimum pension and will progressively decrease to AR$4,000 for those who receive up to the equivalent of two minimum pensions. Therefore, the minimum pension will increase from AR$37,525 to AR$50,353 a month. Massa stated this meant that the minimum pension would increase by 73.5% in 2022, growing 7.9% above inflation. The economy minister, who took office on 3 August, also announced an increase in financial support for families, bringing the universal child benefit and maternity allowance to AR$8,471.

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