Brazil pension reform not enough to stabilize debt or raise credit rating: Fitch

Brazil’s push to overhaul its costly social security system is a welcome step toward healing public finances and the economy, but is not enough to stabilize public debt or trigger a positive review on the country’s credit rating, directors at rating agency Fitch said on Thursday.

Speaking at a Fitch event in Sao Paulo, Fitch’s Shelly Shetty and Rafael Guedes said uncertainty over the pension reform bill’s passage through Congress poses the biggest risk to Brazil’s economy, which they expect to grow by less than 2% this year.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.