Brazil’s Guedes seeks deep pension cuts to avoid Greece’s fate
DAVOS, Switzerland (Reuters) – An overhaul of Brazil’s pension system could save up to 1.3 trillion reais ($345 billion) over the next decade, Economy Minister Paulo Guedes told Reuters on Wednesday, aiming as much as two-thirds higher than the previous government’s failed effort.
In an interview during the World Economic Forum at the Swiss ski resort of Davos, Guedes underscored the enormous scale of a pension reform that investors consider the cornerstone of new right-wing President Jair Bolsonaro’s sweeping economic agenda.
By Mark Bendeich via Reuters