Tag: BNDES

• Monday, June 17th 2019 - 09:00 UTC

  Head of Brazil's powerful Development bank resigns following clash with Bolsonaro

  

  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.

• Wednesday, May 15th 2019 - 09:53 UTC

  Brazil's government cuts economic growth forecast, insists Congress must approve pensions' reform

  

  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.

• Tuesday, February 19th 2019 - 08:33 UTC

  Citigroup poised to boost revenue as advisor of Brazilian public asset sales

  

  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.

• Friday, December 21st 2018 - 12:01 UTC

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

  

  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.

• Monday, November 19th 2018 - 16:36 UTC

  Castello Branco to head Petrobras under Bolsonaro

  

  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.

• Friday, November 9th 2018 - 09:09 UTC

  Bolsonaro vows to investigate Americas largest development bank, Brazil's BNDES

  

  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.

• 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, February 24th 2015 - 04:46 UTC

  Brazil expects to bolster growth with fiscal discipline starting 2016

  

  Brazil needs to act quickly to stabilize its finances and get rid of measures used to stimulate growth during the global downturn in order to bolster expansion in 2016, Finance Minister Joaquim Levy said on Monday.

• Thursday, February 19th 2015 - 05:23 UTC

  Levy tells US investors Brazil is on track to correct the fiscal slippage

  

  The government of President Dilma Rousseff is working to meet its primary budget surplus goal of 1.2% of GDP in 2015, pledged Finance minister Joaquim Levy on Wednesday to an audience of investors in New York.

• Friday, May 2nd 2014 - 09:11 UTC

  Brazil denies financing Uruguay's project of a deep-sea port on the Atlantic

  

  Brazil's economic and social bank, BNDES, denied it was intent in financing Uruguay's deep sea port on the Atlantic coast, as repeated sources in the Uruguayan government have indicated.