MercoPress. South Atlantic News Agency
Brazil’s development bank ‘overbooked’ needs support from the private sector
The Brazilian state development bank BNDES is “overbooked” and needs the private sector to step up funding in investments, according to bank president Luciano Coutinho. Lending by BNDES and other public banks has increased six times faster than credit by non-state bank this year, as the government tries to fuel economic growth. Read full article
Comments
Disclaimer & comment rulesA state bank and they are in New York City asking for money? NYC....in the USA? No way.......I thought....I thought the southies don't like the USA.......of is money the exception to the rule of hatred?
Sep 26th, 2013 - 09:12 am - Link - Report abuse 0Not a good idea to offer loans with money you don't have. Isn't that how argieland got where it is? Where are the reserves? “Brazil doesn’t have the resources to fund the concessions” That means Brazil is, effectively, broke. And begging for money. Sitting next to a rogue state with a history of not repaying debts. Who would trust them? Brazil's sovereign debt is considerably greater than argieland's. Brazil has actually defaulted more times than argieland. Ten times compared to argieland's seven. Eyes bigger than stomach!
Sep 26th, 2013 - 11:55 am - Link - Report abuse 0This is a joke. USA is broken, almost in default. Furthermore, our banks are more solid and capitalized. And theirs is a rotten garbage.
Sep 26th, 2013 - 03:02 pm - Link - Report abuse 0@ 3 Brasiliero
Sep 26th, 2013 - 04:18 pm - Link - Report abuse 0So now you accuse your government of lying? I think Mantega lies through his teeth but Coutino is just incompetent OR more likely does not have an effective system of control.
Perhaps they have never heard of double-entry book-keeping and a fund release register coupled to executive approval? No approval: no release of funds and the prospective loan applicant is then told “you are approved but on a waiting list”. It is then up to the applicant to agree to wait or go somewhere else.
NO computers needed! Works every time, Mortgage Societies have been doing it for centuries in the UK. But what do we know? Ha, ha, ha.
3. I would bet that citizens of Brazil have more money in USA banks than they do in Brazilian banks.
Sep 26th, 2013 - 06:15 pm - Link - Report abuse 0Much more
The Rial is on the way down and nobody smart saves in a depreciating currency.
Private sector is being ruined by excess of bureaucracy.
Sep 26th, 2013 - 06:33 pm - Link - Report abuse 0USA and Europe are broken as you petistas and lefties say but you guys love going there to enjoy what's there and even beg for money like beggars. I never see you guys going to Cuba, North Korea, Somalia, Albania and Zimbabwe at least to be on vacation.....Brasileiro sounds funny. Are u a comedian?
For the Álvaro Grevista: Do not tell me you're angry because just up the bargaining PSDB? Do not tell me you're angry because just up the bargaining of the “Privatarias Tucanas”? Ah, in January i went to South Africa and Angola. Bem legal!
Sep 26th, 2013 - 07:05 pm - Link - Report abuse 0Commenting for this story is now closed.
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