The Brazilian government’s plans to overhaul its pension system can still be saved if lawmakers reverse changes to transition rules and concessions to legislative aides, according to Economy Minister Paulo Guedes.
Brazil's central bank held fire on interest rates on Wednesday despite lackluster growth in Latin America's biggest economy and uncertainty over President Jair Bolsonaro's ability to push through a much-needed pension reform.
Brazil's pension reform process hit two speed bumps on Tuesday, as Economy Minister Paulo Guedes did not attend a first congressional hearing on the proposals and a bloc of eleven political parties demanded the removal of changes affecting retirement benefits for rural and disabled workers.