By Jay Forte, Contributing Reporter
RIO DE JANEIRO, BRAZIL - Yesterday (January 26th) the state of Rio de Janeiro signed a term of commitment to receive financial relief from the federal government. To remedy a deficit that should reach R$26,132 billion in 2017, the state will receive the federal guarantee to take out two loans of approximately R$6.5 billion.
Under the agreement, the governor of Rio de Janeiro, Luiz Fernando (Bigfoot) Pezão, pledged to raise the expected revenues for this year by R$1.2 billion. In order for the fiscal recovery to take effect, the . . .