November 7, 2017 / 11:02 PM / a year ago

Brazil President Temer says working on pension reform with all his energy

BRASILIA, Nov 7 (Reuters) - Brazil President Michel Temer said on Tuesday he is working with all his energy to conclude pension reform following on meeting with the heads of both houses of Congress.

Temer’s statement in a video posted on Twitter comes after his remarks on Monday that it was possible only part of the initially proposed pension reforms, seen as vital to plugging the country’s budget deficit, would be approved.

The main index of the Sao Paulo stock exchange closed down 2.32 percent on Tuesday, falling below 73,000 points for the first time in two months, on fears pension reform will not be approved and the potential impact on Brazil’s credit rating. (Reporting by Jake Spring)

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