November 23, 2016 / 10:02 PM / a year ago

BNDES agrees to accelerate loan repayment to Brazil Treasury

SAO PAULO, Nov 23 (Reuters) - Brazil’s state development bank BNDES agreed to repay up to 100 billion reais ($29 billion) in loans owed to the federal government before the end of the year, in a bid to help curb rapid public debt growth.

Rio de Janeiro-based BNDES said it scrapped an original plan to repay the Treasury loan in three annual installments through 2018.

In an interview on Tuesday with Reuters, BNDES Chief Executive Officer Maria Sílvia Bastos Marquest had left open the possibility of an early repayment deal. (Reporting by Guillermo Parra-Bernal; Editing by Lisa Shumaker)

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