November 7, 2017 / 10:18 PM / in 9 months

Brazil central banker urges pension overhaul to avoid market turmoil

MONTEVIDEO, Nov 7 (Reuters) - Brazil’s congress needs to reform the country’s pension system while global markets are favorable or risk facing more volatility, central bank chief Ilan Goldfajn said on Tuesday during an event in Uruguay.

The pension overhaul, seen by investors as crucial to plugging Brazil’s budget deficit, came close to a lower house vote in late May after months of discussions, but has remained stalled for six months due to a corruption scandal. (Reporting by Malena Castaldi; Writing by Silvio Cascione; Editing by James Dalgleish)

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