Politics • American • Brazil
2020-06-08T18:00:01+00:00

Brazilian BNDES to suspend debt payments by local governments

Gustavo Montezano, BNDES president, announced Monday the development bank had suspended the payment of interest and principal on debt owed by states and cities through the end of the year.

Montezano said this move could save states up to $790 million, and the bank would also make transfers to 13 states.

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