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LatinNews Daily - 10 July 2019

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In brief: Brazil

* Brazil’s federal chamber of deputies has begun debating the pension reform proposal (PEC 6/19), with the expectation that it will be voted upon today (10 July) and pass the second round of voting in the chamber before the congressional recess begins on 18 July. As it represents a constitutional amendment, the pension reform requires a three-fifths majority and two rounds of voting in both the chamber of deputies and the senate. Rodrigo Maia, president of the chamber, is confident that he can collect the necessary 308 votes to approve the reform in the chamber this week. His optimism is fuelling a stock market rally with the index for the São Paulo stock exchange (Ibovespa) reaching record highs.