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Brazil Pension Reform Chief Sticks to Savings Target, May Vote

Brazil's government is sticking to its goal of having its pension reform bill, with promised public savings of more than 1 trillion reais ($262.5 billion) over the next decade, ready for a vote in the lower house of Congress by the end of May. In an interview with Reuters in Brasilia on Tuesday, Rogerio Marinho, secretary of social security and labor at the Economy Ministry, pushed back against market concerns that the timeline and savings target are too optimistic. Investors say...

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