September 19, 2016 / 1:42 PM / a year ago

Brazil's Meirelles says pension reform key to avoid insolvency

SAO PAULO, Sept 19 (Reuters) - A reform to cut overly generous pension benefits is necessary to prevent Brazil from becoming insolvent in coming years, Finance Minister Henrique Meirelles said on Monday.

Speaking to business leaders in Sao Paulo, Meirelles said a recent recovery in consumer and business confidence shows the government is on the right path to solve Brazil’s economic woes. (Reporting by Thais Freitas; Writing by Alonso Soto; Editing by Chizu Nomiyama)

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