On August 7, Brazil’s Chamber of Deputies passed by a wide margin a long-awaited amendment to reform the country’s notoriously insolvent pensions. The bill now moves on to the Senate, where it will take around 60 days before becoming law or being shelved.
Recent polls show a majority of Brazilians support altering the social-security system, and they are not alone. Local and foreign investors are waiting on the outcome since the reform is key to reducing Brazil’s deficit and sovereign risk premium.
- What is the size and scope of Brazil’s pension problem?
- What are the reform’s main changes and objectives?
- How will the pension reform benefit Brazil’s economy in the short and long terms?
- How likely is it to pass through Congress? Have lobbies succeeded in removing any key elements?
“Why Brazil Cannot Avoid Pension Reform,” by Maurício F. Bento
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