Outgoing President Michel Temer issued an executive order that allows foreign groups to own 100% of a Brazilian airline. Previously, non-Brazilians were limited to 20% of shares. The decision occurs in the midst of a bankruptcy proceeding filed by Avianca Brasil.
Brazil’s political affairs minister Carlos Marun said on Monday that passage of a bill to overhaul the country’s costly social security system has effectively ground to a halt in Congress and would become a campaign issue in this year’s election.