IBOV 171,906.72 ▲ 0.51% IPSA 11,505.53 ▲ 1.47% IPC MEX 66,101.04 ▲ 0.57% MERVAL 2,990,152 ▲ 2.64% COLCAP 2,492.22 ▲ 1.34% BVL PERÚ 60,222.25 ▼ 0.22% USD/BRL5.15▲ 0.26% USD/MXN16.95▲ 0.21% USD/CLP911.45▼ 0.39% USD/COP3,055▲ 0.41% USD/PEN3.35▼ 0.07% USD/ARS1,509▲ 0.63% USD/UYU40.18▼ 0.03% USD/PYG5,989▼ 0.11% USD/BOB11.44▲ 0.09% USD/DOP58.07▼ 0.99% USD/CRC446.05▼ 0.89% USD/GTQ7.62▼ 0.04% USD/HNL26.82▲ 0.02% USD/NIO36.62— 0.00% USD/VES782.70▲ 0.48% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.72▲ 0.25% EUR/BRL6.01▲ 0.12% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 171,906.72 ▲ 0.51% IPSA 11,505.53 ▲ 1.47% IPC MEX 66,101.04 ▲ 0.57% MERVAL 2,990,152 ▲ 2.64% COLCAP 2,492.22 ▲ 1.34% BVL PERÚ 60,222.25 ▼ 0.22% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Politics - Brazil Rio de Janeiro

Brazil’s Government Pushes for Reform Bill Amidst Scandal

By · April 17, 2017 · 2 min read

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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Trying to shift the focus back to government accomplishments, instead of the Supreme Court investigation of a staggering number of politicians, Brazilian President Michel Temer called a meeting on Easter Sunday of his top advisors and Congressional allies to discuss the social security reform in Congress.

Brazil, Brasilia,President Temer met on Easter Sunday with cabinet members and legislators to discuss social security reform,
President Temer met on Easter Sunday with cabinet members and legislators to discuss social security reform, photo by Marcos Correa/PR.
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Among those attending the meeting were Finance Minister, Henrique Meirelles, Commission Chairman, Carlos Marun, General Secretariat to the Government, Wellington Moreira Franco, Senator Romero Jucá, Chamber President Rodrigo Maia and the bill’s rapourter, Artur de Oliveira Maia, the latter four named by Odebrecht executives as being implicated in the Lava Jato scandal.

For Representative Marun, however, the latest accusations against politicians in the Lava Jato corruption scheme will not deter the Administration from pushing through the social security reform.

“I do not have the slightest concern about this list interfering in the vote, I will not minimize the issue, which, on the contrary, demands an even greater effort that we fulfill our duty, which is to vote,” Marun told reporters after the meeting according to a government news agency.

According to a former Odebrecht executive more than R$10.6 billion was paid in bribes by the company for benefits between the years of 2006 and 2014.

Representative Marun also assured the press that the reform will be approved in the Chamber floor. Voting should take place in the first week of May.

To make sure that happens local media is reporting that President Temer has scheduled a breakfast on Tuesday to meet with Chamber representatives who support the administration. He is expected to state that his government has met most of the legislators’ demands and now he wants them to approve the reform.

In 2016, the deficit in Social Security accounts totaled R$149.7 billion. The government estimates that this year, the deficit will jump to R$188.8 billion and, in 2018, to R$202 billion.

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