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LatinNews Daily - 05 July 2019

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In brief: Brazil

* A special committee in Brazil’s federal chamber of deputies has approved a pension reform proposal with 36 votes in favour and 13 against, paving the way for it to be voted upon in the plenary chamber next week. The pensions and labour secretary, Rogério Marinho, said that the approved version of the pension reform bill should allow the government to make savings of R$1trn (US$263bn) over the next ten years. The initial text proposed by the government had planned for savings of R$1.24trn. The São Paulo stock exchange (Bovespa) surged to an all-time high after the committee approved the reform’s main text, with its index closing the day at 103,636.17 points. The real appreciated against the US dollar, reaching a three-month high and closing the day at US$1/R$3.8.