Former URF Director Reveals Minister Ávila Urgently Asked for a Decree to Repatriate Pension Savings "in Record Time"
Mónica Higuera Garzón, former director of the Financial Regulation Unit (URF) of the Ministry of Finance, has once again publicly addressed the differences she had with Finance Minister Germán Ávila before her departure from the Government...
TL;DR
- Former URF director Mónica Higuera claims Minister Germán Ávila requested an urgent decree to transfer 120 trillion pesos from pension fund investments.
- Higuera felt the request was ill-advised and possibly unknown to President Petro.
- The government is currently debating a decree to limit private pension funds' foreign investments to 30% over five years.
- Market analysts warn that such restrictions could impact portfolio profitability and future pension payments.
- Higuera suggested that technical advisors in the Ministry of Finance have been replaced by less experienced individuals.
- Her resignation in December 2025 was attributed to disagreements with government decisions.
- The episode raises questions about pension savings management and the balance between economic policy and financial sustainability.