President Uribe proposes unemployment insurance

Colombian president Alvaro Urive Vélez suggested the creation of an unemployment insurance that will be paid by the workers themselves, and will benefit them. Uribe specified that Colombia has no fiscal capacity to finance it and he announced that he will propose his idea to the Labor Agreement Committee.

“We found a different way of financing the insurance from what we had thought. It’s a contribution to all workers and to family benefit funds. Doing it over fiscal cost? There’s no possibility”, said the head of state. Uribe added that Colombia has a well-balanced legislation compared to other Latin American nations and that there is plenty employment stability.
 
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