Global Outlook

 In a marathon voting session to restructure Chile's political system, the lower house rejected two proposals for the early withdrawal of pension funds. President Gabriel Boric is juggling between inflation and populist demands. Chile’s Congress blocked the rival bill as it did not receive the simple majority needed to continue in a late-night vote on Monday. Lawmakers were due to debate rival legislation that would allow another round of early pension withdrawals. However, Congress thinks the bill could threaten to stoke inflation, which is already running at the fastest pace in 14 years.  While the rejection of the bill prevented another blow to the country’s private pension system, it is likely to hit the government’s popularity. The government has repeatedly said it opposes the bill because of the impact on inflation. Finance Minister Mario Marcel also said the bill would worsen spiraling inflation. Chile reported its highest monthly inflation rate in March, 1.9 percent s...