Brazil's Temer prepared to negotiate on pension reform

Brazilian President Michel Temer acknowledged on Friday that his government will have to negotiate with Congress to obtain passage of a bill to overhaul Brazil's costly pension system because it will face objections from politicians.

"We will have to dialogue," he said in an interview with radio broadcaster CBN. His government is worried that there is not much room for concessions in a proposal that could fail to help reduce a ballooning budget deficit if it is watered down.

Source: Reuters