Paraguay and Plurinational State of Bolivia (2011), Honduras (2010), Nicaragua (2009) and Guatemala (2006). Argentina, Brazil and Uruguay stand out with personal income tax, social security contributions and public cash transfers (including pensions) together reducing inequality (as measured by the Gini coefficient) by around 13% on average. An equalizing effect was also achieved by public pension programmes in Chile, Costa Rica and Panama, and by direct taxation in Mexico.