Good morning! We’re covering today’s upcoming pension reform vote (and what comes next). The Brazilian stock market reaches a record high. And, the OECD’s worries about Brazil’s anti-corruption efforts. (This newsletter is for platinum subscribers only. Become one now!)
Pension reform: is this it?
Today, the Senate is expected to finally approve an overhaul to Brazil’s pension system—finishing an eight-month-long legislative process. As with all proposals to change the constitution, the reform needs to be approved by two-thirds of each congressional house in two rounds of votes. The whip count in the Senate is highly favorable to the proposal.