Tag: BNDES National Development Bank

• Wednesday, March 13th 2024 - 06:19 UTC

  Brazil's massive goods foreign trade is in US dollars but there are incipient deals in Euros and Reais

  

  Brazil's foreign trade in goods, some US$ 640bn annually is done mostly in US dollars, some 95%, but there are some inroads to other currencies such as the Euro and its own Brazilian Reais. These figure come from an annual report on trade operations’ currency statements compiled by Brazil’s Foreign Trade Secretariat of the Ministry of Development, Industry, Trade, and Services (Secex-MDIC), and revealed last week.

• Tuesday, November 13th 2018 - 10:42 UTC

  Bolsonaro's economic team incorporates another Chicago orthodox liberal

  

  Joaquim Levy, managing director and World Bank chief financial officer, has been tapped to be the next president of Brazil’s national economic and social development bank BNDES, news advanced to a column in daily O Estado de S. Paulo published on Sunday.

• Tuesday, January 30th 2018 - 09:28 UTC

  Brazil's meets 2017 fiscal target and juggles funds to keep the investment/debt rule

  

  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.

• Tuesday, August 29th 2017 - 11:30 UTC

  Brazil limits discretionary subsidies through government banks lending

  

  Brazil’s lower house of Congress approved the main text of a bill creating a market-based benchmark interest rate for state lender BNDES, in a victory for President Michel Temer. The lower house will now have to analyze three potential amendments to the bill early on Tuesday before sending the measure to a final Senate vote, speaker Rodrigo Maia told reporters.

• Monday, July 31st 2017 - 08:10 UTC

  Decisive vote in Brazilian lower house for president Temer's future in office

  

  The Brazilian Congress will return from recess this week and could bring back political uncertainty fears to local markets, as lawmakers are set to decide on Wednesday if the Supreme Court should trial President Michel Temer for corruption. Temer was formally charged with passive corruption by the prosecutor-general Rodrigo Janot at the end of last month.

• Friday, October 21st 2016 - 18:17 UTC

  Brazilian prosecution after another can of worms, the national development bank, BNDES

  

  Brazil’s national development bank has frozen $13.5bn of funds for 47 overseas projects, including those in Angola, Mozambique, Cuba and the Dominican Republic, as yet more corruption charges are brought against politicians and executives arising from the Lava Jato corruption probe.

• Tuesday, September 27th 2016 - 10:48 UTC

  Liaison man between Lula and Rousseff's presidencies, and corruption scheme arrested

  

  Brazilian presidents Lula da Silva and Dilma Rousseff former Presidential Chief of Staff and Finance Minister Antonio Palocci was temporarily arrested on Monday morning in São Paulo as part of the 35th phase of the Lava Jato (Car Wash) Operation investigating the Petrobras corruption scandal.

• Tuesday, June 21st 2016 - 07:55 UTC

  Interim president Temer announces grace period for Brazilian states debts

  

  Brazilian states will get a six-month grace period on debts with the federal government, followed by a year and a half of reduced payments, interim President Michel Temer announced.

• Wednesday, May 25th 2016 - 05:58 UTC

  Temer announces tough austerity measures but needs to show Congress supports him

  

  Brazil's interim president announced austerity measures on Tuesday aimed at pulling Latin America's largest economy from its worst crisis in decades, warning that a failure to act would sentence future generations to “extraordinary hardship.” Speaking with government leaders in a national televised meeting, interim president Michel Temer, 75, also banged his hand on the table while insisting he was up to the job.

• Tuesday, May 17th 2016 - 07:25 UTC

  Temer names a woman to head Brazil's giant development bank, BNDES

  

  Brazil’s interim President Michel Temer will replace the head of the government’s giant development bank with a female economist, following heavy criticism over his appointment of an all-male white cabinet.