Brazil’s Lula not planning to revoke labor, pension reforms, VP says

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Reuters

SAO PAULO (Reuters) – President Luiz Inacio Lula da Silva does not intend to revoke Brazil’s labor and pension reforms, market-friendly moves passed by Congress in 2017 and 2019, Vice President Geraldo Alckmin said on Monday. Alckmin’s remarks echoed comments by Lula’s Chief of Staff Rui Costa, who earlier this month ruled out plans to revise the previous government’s economic reforms after markets tanked on fears that could happen. Costa and Alckmin were lined up to fix fences following communication hiccups in the early days of the leftist administration, when ministers suggested reviewing t…

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