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Montevideo, April 22nd 2019 - 20:11 UTC

Brazil’s development bank “must return” to the Treasury some US$ 25bn

Friday, December 21st 2018 - 12:01 UTC
Full article 8 comments
BNDES has 260 billion dollars of debts with the treasury, Estado said, and it is currently scheduled to pay back 26 billion reais next year BNDES has 260 billion dollars of debts with the treasury, Estado said, and it is currently scheduled to pay back 26 billion reais next year

Brazil’s future economy minister wants state development bank BNDES to return 100 billion Reais, some US$25.7 billion, to the nation’s treasury in 2019, a newspaper reported, as the incoming government seeks to cut the nation’s hefty debt load.

The transition team of incoming Economy Minister Paulo Guedes is talking with the future head of BNDES, Joaquim Levy, about the potential payment, newspaper Estado de S. Paulo reported on Thursday, citing sources with knowledge of the matter.

BNDES has 260 billion dollars of debts with the treasury, Estado said, and it is currently scheduled to pay back 26 billion reais next year. Guedes’ plan would accelerate those repayments.

While the paper said Guedes wants a 100 billion-real payment in 2019, it added that the actual amount will depend on the assessment of the “technical area” of BNDES.
Guedes and Levy are due to take office in January.

BNDES has been used extensively to finance pork barrel projects under congressional influence and has financed generously Brazilian industry and agriculture.

Categories: Economy, Politics, Brazil.

Top Comments

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  • :o))

    REF: Brazil’s development bank “must return” US$ 25bn

    Is someone so damn stupid to return ANYTHING?

    Dec 21st, 2018 - 01:28 pm 0
  • Jack Bauer

    The cost of financing infrastructure around Latin America (excluding Brazil) and Africa........and why not ? I mean, after all, Brazil's infrastructure is already prepared to enter the 22nd century....

    Or am I wrong ???

    Dec 21st, 2018 - 08:45 pm 0
  • :o))

    @JB

    $ 260B MUST have filled MANY Offshore Accounts! Or were there only a few Offshore Accounts really involved? As USUAL, nobody will ever know & the Group of the individuals involved will earn praises for their deeds!
    https://i0.wp.com/blogdoaftm.web2419.uni5.net/wp-content/uploads/2017/11/1839-1-820x615.jpg

    Dec 21st, 2018 - 09:37 pm 0
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