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Weekly Report - 30 November 2017 (WR-17-47)
BRAZIL: Time running out for key pension reform
If a vote on pension reform is to happen at all this year, it is more likely to happen on 13 December than 6 December, according to the government’s deputy leader in the federal lower chamber of congress, Beto Mansur. His comments, on 29 November, sent the Real sinking to a three-week low and caused the São Paulo stock exchange (Bovespa) to sell off. Investors are growing increasingly gloomy about the chance of any kind of reform to Brazil’s bloated and unsustainable pension system.
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