LatinNews Regional Monitor: Brazil & Southern Cone - 19 March 2019

* The index for Brazil’s São Paulo stock exchange (Ibovespa) has exceeded the 100,000 point-mark for the first time in its history, reaching 100,026 on 18 March before closing the day at 99,828 points. The Ibovespa has repeatedly reached new all-time highs since President Jair Bolsonaro’s government took office on 1 January, spurred by market optimism as to the country’s economic performance, and particularly the implementation of a pension reform. Brazil’s vice president and currently acting president Hamilton Mourão has said the government hopes the pension reform, now under discussion in the chamber of deputies, will be approved by mid-2019. A separate proposal concerning military pensions is due to be delivered to congress this week.

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