LatinNews Daily - 04 April 2018

* Brazil’s federal congress has overturned a series of presidential vetoes from President Michel Temer, which could damage public finances. In the first defeat, congress overturned a veto on debt refinancing (Refis) for small and medium-sized businesses (SMEs), which Temer said could conflict with the law of fiscal responsibility. Secondly, it overturned a veto on debt refinancing for rural workers (Funrural), resulting in R$10bn (US$2.9bn) in losses for the treasury. Last year, Temer signalled he would be willing to withdraw both measures if congress passed his pensions reform. But negotiations backfired and he has ended up with nothing.

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