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Financial News: BRAZIL: Temer Begins Cabinet Changes To Prop Up

BRAZIL: Temer Begins Cabinet Changes To Prop Up Support For Pension Reform

11/21/2017 - 16:45:00 (RTTNews)

(RTTNews) - The Brazilian government is moving ahead with a cabinet reform to please allied parties and increase Congressional support to the pension system reform bill, which awaits a House floor vote.

While analysts consider the pension reform essential to balance the government's accounts, many allied representatives fear to lose votes in next year's general elections if they sponsor the bill.

Last week, Bruno Araújo left the Ministry of Cities amid a political rift in his party, the PSDB, which is increasingly divided on its support to President Michel Temer. In his letter of dismissal, Araujo said that he lacked political support to remain in office.

Now, another political party, Podemos, said that Alexandre Baldy, one of its members, would replace Araujo (PSDB) as the Minister of Cities. Podemos, however, ditched Baldy arguing that it wants to remain independent of the current government.

Baldy is a former member of PSDB and, as the head of the Ministry of Cities, will coordinate social programs like Minha Casa Minha Vida (My House My Life), which makes housing cheaper to low and medium income families.

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