Rio de Janeiro – The chairman of the Brazilian Development Bank (BNDES), Luciano Coutinho, has admitted this Wednesday (6th), at business school Fundação Getúlio Vargas (FGV), in Rio de Janeiro, that because of the elections due in October, some investments are being postponed. “This is reflected in a certain decline in number of consultations [to the bank]. There is a bit more uncertainty, and it shows in the process.” He remarked, however, that the scenario is not associated with eventual changes in administration. “This is part of the democratic regime. That is the type of uncertainty I was referring to,” he stressed.
Coutinho attended the seminar Challenges in Public Administration in Brazil and the United States, sponsored by FGV’s Brazilian Public and Business Administration School (Ebape). He declined to comment on whether disbursements by the bank will match 20013’s R$ 190.4 billion (US$ 83.9 bn). “There have been moments when we believed credit and the market may help things along” was all he said.
*Translated by Gabriel Pomerancblum
