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BNDES Director confirms agreement to return US $ 50 billion to the Treasury

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National Bank for Economic and Social Development (BNDES) financial director Carlos Thadeu de Freitas confirmed on Thursday September 21 an agreement to return to the Treasury R$ 50 billion about US$ 16 billion this year and said that the remaining values are still in negotiation and depend on the resumption of the economy.

To minimize the fiscal deficit, the government asked the bank to repay R$ 180 billion about US$ 58 billion of the R$ 440 billion about US$ 140,5 billion loaned for the granting of subsidized loans. Freitas said that R$ 33 billion about US$ 10,5 billion will be transferred to the Treasury and next week. The other R$ 17 billion, about US$ 5,43 only next month.