Tag: Paulo Guedes

• 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.

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• Thursday, June 6th 2019 - 09:56 UTC

  Banks making too much money, “more competition is needed” blasts Brazilian economy minister

  

  Brazilian banks are chalking up “excessive” profits, Economy Minister Paulo Guedes said, adding that the country needs an injection of competition to end what he called the cartels that dominate many of its major sectors.

• Tuesday, May 28th 2019 - 09:47 UTC

  Brazil's Guedes insists he will step down if the pensions reform is not approved by Congress

  

  Brazil’s Economy Minister Paulo Guedes threatened to step down if his ambitious plans to overhaul the country’s social security system are watered down and diluted into what he called a “little reform.”

• Saturday, May 18th 2019 - 09:57 UTC

  Brazilian economy flirting with economy: “we are at the bottom of the well” says minister Guedes

  

  Feeble growth forecasts and waning confidence in President Jair Bolsonaro sent Brazil's stocks and currency to their lowest level of the year this week, as analysts warned of further falls.

• 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, May 14th 2019 - 09:43 UTC

  Brazil plans to reduce import tariffs by ten percentage points in four years

  

  Brazil plans to reduce import tariffs by 10 percentage points during the new government’s four-year term, Economy Minister Paulo Guedes said, a move away from the direction currently being taken by countries such as the United States.

• Saturday, April 27th 2019 - 09:38 UTC

  Petrobras details divestment list including refineries; Bolsonaro open to privatization of oil company says minister

  

  Brazil's state-controlled oil company Petrobras on Friday for the first time detailed long-awaited plans to sell a series of refineries and other assets as the company focuses on its core oil and gas exploration business.

• Friday, April 26th 2019 - 09:16 UTC

  Brazilian pension reform savings looks to be 15% higher than originally planned

  

  Brazil’s Economy Ministry on Thursday raised its projected savings from its pension reform bill over the next decade to 1.237 trillion reais (US$ 312 billion), well above the “minimum” 800 billion reais President Jair Bolsonaro said he expects.

• Friday, April 19th 2019 - 09:29 UTC

  Brazil to put up new pre-salt oil blocks for auction in October

  

  Brazil will hold an offshore oil deposit auction in October featuring blocks that were the object of a long-running dispute with state energy giant Petrobras. Reuters reports, citing Economy Minister Paulo Guedes, that participants in the auction will need to cough up a signing bonus of a total US$26.9 billion for the four blocks.

• Thursday, April 18th 2019 - 08:22 UTC

  Minister says pension reform will pass within four months, helping the Brazilian economy to grow by 3.5%

  

  Brazil's economic growth may accelerate to a 3.5% annual rate in the second half of the year after the approval of pension reforms, Economy Minister Paulo Guedes said in an interview with TV channel Globo news.