December 28, 2016 / 10:25 AM / 7 months ago

Brazil's Temer to veto states' debt relief bill - papers

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SAO PAULO, Dec 28 (Reuters) - Brazilian President Michel Temer is expected to veto a bill under which the central government bails out indebted states, according to the Wednesday editions of newspapers Valor Econômico and Folha de S.Paulo.

The main reason for the move, which may be announced today, is a decision by the chamber of deputies to scrap adjustments the states were expected to make in order to get some debt relief.

"It makes no sense allowing states to defer debt payments without making any adjustments," Eduardo Guardia, executive secretary at the Finance Ministry, was quoted as saying in Valor Econômico.

The intention to veto the bill was discussed by Temer at a meeting Tuesday with Finance Minister Henrique Meirelles and Planning Minister Dyogo Oliveira, according to the newspaper reports.

A Finance Ministry spokesman was not immediately available for comment.

Reporting by Ana Mano; Editing by Janet Lawrence

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