Argentina Congress boosts pensions in setback for Milei

FILE PHOTO: Argentina's President Javier Milei speaks during the CPAC (Conservative Political Action Conference) in Balneario Camboriu, Santa Catarina state, Brazil, July 7, 2024. REUTERS/Anderson Coelho/File Photo

BUENOS AIRES (Reuters) - Argentina's Senate on Thursday overwhelmingly passed a reform hiking pensions in line with inflation, which could put the strict fiscal balance pushed by President Javier Milei at risk.

The bill, passed with 61 votes in favor and eight votes against, outlines a new mechanism for adjusting pensions.