Argentine President Raises Minimum Pension by 16.9% to Stimulate Demand

Argentine President Cristina Fernandez de Kirchner Wednesday announced a 16.9% increase in the minimum pension, a move she said would spur consumption, investment and economic activity without impacting inflation. The minimum pension will go up to 1,091.50 pesos ($277.49) a month from 895 pesos, effective Sept. 1, she said during a televised address in Buenos Aires – iMarketNews