Brazil: An Economic Overhaul Is Shelved, For Now

In light of recent regional unrest and better-than-expected economic numbers, Brazilian President Jair Bolsonaro may be playing it safe. After passing a pension reform bill in October and submitting additional economic reforms to Congress last month, Bolsonaro recently backed off measures to restructure government operations and improve the tax system until after municipal elections expected in October 2020. Such caution, however, could cost Bolsonaro a chance to improve Brazil's economy over the longer term....