Source: El País
Traditionally it was believed that social protection was a luxury that could only be afforded by wealthy nations. Poor- and middle-income countries couldn’t (and many argued that they shouldn’t) pay the cost of having cash transfer programs that protect families in vulnerable situations which keeps them from falling into poverty. Today, a growing number of countries in the world, including many extremely poor countries, rely on cash transfer programs that offer social protection to vulnerable citizens. The case of Latin America is a clear example. Be it through conditional cash transfer programs like Bolsa Familia in Brazil or Oportunidades in Mexico, or non-contributory pension programs like Pensión Basica Solidaria in Chile or Pensión 65 in Peru, currently, the majority of countries in the region count on programmatic instruments to offer monetary support to their low income citizens.
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