UPDATE 1-Brazil's Caixa eyes 20 bln reais repayment which government will use to cut public debt [Reuters]
BANCO DO BRASIL SA S/ADR (BDORY)
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Source: Reuters
UPDATE 1-Brazil's Caixa eyes 20 bln reais repayment which government will use to cut public debt - Reuters 2 Min Read (Adds detail, quotes) By Mateus Maia BRASILIA, June 12 (Reuters) - Brazil’s Caixa Economica Federal is returning 3 billion reais ($1.825 billion) to the Treasury, the first part of a drive across state-owned banks to return funds to the government which will be used to reduce the public debt, Caixa’s president and the Economy Minister said on Wednesday. In a hastily arranged joint-press conference, Caixa chief Pedro Guimaraes said the bank aims to return 20 billion reais to the government this year, and Paulo Guedes said other banks are working toward repaying previous loans made by the Treasury. Guedes said state-owned banks like Caixa and development bank BNDES had committed “excesses” in the past, which had helped inflate the public debt. It was the government’s responsibility, together with the banks, to address that. “It is important to be clear that this money is
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