Chileans forced to dip into their retirement savings

In Santiago de Chile

Congress in Santiago passed a reform on Friday allowing Chileans to use up to 10% of their retirement savings.

This measure is supposed to allow residents to face the crisis caused by the pandemic, while more than 80% of the country has been under strict confinement for a month to contain the increase in Covid-19 cases.

If the law is enacted, it will be the third such initiative in nine months.

Last week, the government of President Sebastian Pinera - liberal right - announced its intention to block the text by lodging an appeal before the Constitutional Court, which will render its decision in the days to come.

The position of the Head of State has provoked many demonstrations, sometimes punctuated by clashes with the police.

According to a recent poll, 80% of the population would be in favor of this measure authorizing a withdrawal of a minimum of 1 million pesos (1,160 euros), capped at 4.3 million

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