State of Rio de Janeiro Unable to Pay Pension Checks

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – The government of Rio de Janeiro announced on Wednesday that due to cash flow problems it would not be able to pay over 137,000 state retirees this month. Officials blame the sharp decline in tax revenues and the decrease of oil prices in the international market for the lack of funds.

Calling it a tragedy acting governor Francisco Dornelles said that only those retirees earning less than R . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?