Headline: Uruguayan Presidential Candidate Sees Risk in Pension Reform

MONTEVIDEO - Alvaro Delgado, the conservative candidate in Uruguay's upcoming presidential elections, has expressed concerns over the proposed pension reform set to be decided by a referendum coinciding with the first round of the presidential elections on October 27. The reform proposes lowering the retirement age to 60 and eliminating private pension plans in favor of increased state payments, which Delgado argues could jeopardize the country's economic stability.

In an interview, the 55-year-old Delgado warned that the approval of the pension reform could disrupt Uruguay's economic model, long characterized by stability and social protection. He stated that should the referendum pass, it would necessitate a complete reassessment of the government's plans.

Uruguay, with a population of 3.4 million, is known for its free-market orientation and serves as a regional hub for technology and finance firms. However, the country faces the challenge of addressing significant fiscal deficits. Representing the National Party and aiming to continue the policies of current President Luis Lacalle Pou, Delgado does not consider tax increases as a solution for balancing the budget, suggesting instead that spending cuts would be a more likely remedy.

Delgado's campaign underscores his commitment to international trade agreements, including seeking a deal with China, Uruguay's largest trading partner for commodities like beef, pulp, and soybeans. He also mentioned efforts to finalize the EU-Mercosur agreement, pursue membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and explore a free trade agreement with Turkey.

Yamandu Orsi, the center-left opposition candidate leading in the polls, also expressed a desire to avoid tax increases or significant structural reforms.