Brazilian development bank BNDES has suspended the payment of interest and principal on debt owed by municipalities and states through the end of the year, Chief Executive Gustavo Montezano said, citing the coronavirus pandemic.
Brazilian plane manufacturer Embraer SA, the world's third-largest commercial jet builder, should obtain US$600 million in credit lines from Brazil's state development bank BNDES and private banks in June, government sources said on Sunday.
Brazil's development bank BNDES sold US$5.2 billion in common shares it owned in state-controlled oil company Petrobras. The company priced the offering at 30 Reais per common share, a discount of 1.57% relative to Wednesday's closing price. BNDES sold 22 billion reais in shares.
The head of Brazilian state development bank BNDES has submitted a letter of resignation amid public tensions with president Jair Bolsonaro, reflecting the serious divisions that continue to plague the administration’s upper echelons.
Brazil’s government will cut its 2019 economic growth forecast to below 2% and seek supplementary funding from state-run BNDES development bank to meet current expenditure and avoid breaking its fiscal rules, Economy Ministry officials said on Tuesday.
Citigroup Inc expects to boost annual revenue in Brazil over the next years by advising potential public asset sales and through a revival in capital markets, its chief executive officer in Brazil told journalists on Monday. Marcelo Marangon said Citi expects its annual revenue in Brazil to grow to US$1.5 billion from US$1.1 billion over the next years. He did not specify a timeframe for the goal.
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.
Brazilian President-elect Jair Bolsonaro's future Economy Minister Paulo Guedes Monday announced Economist Roberto Castello Branco has accepted the invitation to become the next Petrobras chairman.
Right-wing President-elect Jair Bolsonaro vowed in a tweet on Thursday to investigate Brazil’s state-run national development bank, BNDES, for corruption by opening its “black box” of secret transactions. BNDES is the largest development lender in the Americas with a loan book larger than the World Bank’s.
Brazil’s government will tap the nation’s sovereign fund and recent surpluses to cut debt and avoid breaking budget rules this year, officials said on Monday, after easily meeting the 2017 fiscal target.