Brasília – This Friday (22nd) the Brazilian Official Gazette published a ruling from the interim minister of Finance, Nelson Barbosa, authorizing the transfer of 10 billion reals (US$ 4.9 billion) to the Brazilian Development Bank (BNDES in the Portuguese acronym).
According to the text, the federal government commits to issuing public federal government debt bonds, via direct placement.
On June 13, the National Treasury secretary Arno Augustin had announced that the Finance Ministry policy provided for 45 billion reals (US$ 22.1 billion) to be transferred to the BNDES.
According to Augustin, the funds were going to be freed up on an as-needed basis. “There are many uses that are defined as the year goes by, but we are expecting what is provided in by law: 45 billion reals,” said the secretary on that occasion.
*Translated by Gabriel Pomerancblum
