Eclac mission to review pension reform

Thursday, June 3, 2004

A mission from the UN-based Economic Commission for Latin American Countries (Eclac) will meet with Bolivian treasury ministry officials on June 3-4 to discuss the high costs of pension system reform, local press reported.

The mission plans to discuss ways to fund pension reform and deal with debt in the pension system. World Bank and International Monetary Fund (IMF) representatives are already involved in helping Bolivia with pension reform financing.

Eclac will work together with the World Bank and IMF to work out these issues "and in particular to find ways to finance the system," said treasury minister Javier Cuevas.

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The high cost of reform will total 4% of Bolivia's total GDP.