Pension reform in Brazil unlikely before 2019: Itaú economist

Brazil is unlikely to reform its costly pension system before 2019 because President Michel Temer, hobbled by a corruption scandal, is too weak to push the measure through Congress, the chief economist of Brazil’s largest bank told Reuters on Monday.

The lower house of Congress last month blocked a potential corruption trial against Temer, but chief prosecutor Rodrigo Janot has signaled he could file at least two more graft-related charges before stepping down in the coming weeks.

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