March 27, 2019 / 6:40 PM / 3 months ago

Brazil economy minister says government to launch $2.5 bln state rescue plan

RIO DE JANEIRO, March 27 (Reuters) - Brazil’s government will unveil a plan of at least 10 billion reais ($2.5 billion) in about a month to help financially stretched state governments, Economy Minister Paulo Guedes said in the Senate on Wednesday.

Guedes also urged lawmakers to approve the government’s ambitious pension reform plan, adding that if it were passed, the money allotted for the states could rise. Earlier, Onyx Lorenzoni, the chief of staff to President Jair Bolsonaro, said there had been errors in the government’s approach with Congress to approve pension reform.

$1 = 3.9386 reais Reporting by Gabriel Stargardter Editing by Jamie McGeever and Lisa Shumaker

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