Brazil’s Economy Minister Paulo Guedes has canceled a trip to the International Monetary Fund’s annual meeting (IMF) in Washington, to deal with his economic agenda, the ministry said on Wednesday, as the government’s pension reform plan winds its way through Congress.
The long-awaited overhaul of Brazil’s costly pension system still lacks final Congressional approval. A second round vote by the Senate is expected next week.
At IMF’s meeting, the Brazilian government will be represented by Central Bank’s president, Roberto Campos Neto, and by Brazil’s deputy economy minister for foreign trade, Marcos Troyjo.
On Tuesday, IMF cut its Brazil growth estimate in 2020 to 2%, citing fiscal unbalance as one of the factors that will keep Latin America’s annual economic growth under 3% in the mid-term.