Planning Ministry brushes up social security design for IADB funding

www.vheadline.com Posted: Wednesday, March 19, 2003 By: Patrick J. O'Donoghue

The Venezuelan Economic Coordination & Planning (Cordiplan) Ministry has announced that it will present the Inter American Development Bank (IADB) with its new social security design, for which it will request funding.

The report called the “design for the new social security institutionality” is currently in the finishing stages at the Finance, Labor, Health and Planning ministries. Each sector will present its findings at the next inter-ministerial meeting convened to edit a final report and come up with cost estimates for funding purposes.

A provisional reform of the service in December brought into being a Social Security Superintendency and Social Security Treasury in charge of undertaking affiliations. IADB director for Venezuela and former Venezuelan Finance Minister Jose Alejandro Rojas says the credit portfolio is up for review in April and some loans could either be increased or cut.