January 7, 2019 / 10:55 AM / 6 months ago

BNDES to return $27 bln to Treasury this year - media

SAO PAULO, Jan 7 (Reuters) - Brazil’s development bank BNDES aims to return up to 100 billion reais ($27 billion) in loans owed to the Treasury this year, a bank official was cited as saying, as the country’s new economic team seeks to cut public debt faster.

Carlos Thadeu de Freitas, financial director at the BNDES, was cited as saying in two newspapers on Monday that reaching the target in 2019 would depend on the speed at which the bank disburses loans to its clients.

The BNDES had planned to repay 26 billion reais to the Treasury this year, according to reports in Valor Econômico and O Estado de S.Paulo, but this figure can be quadrupled as the country’s new Economy Minister, Paulo Guedes, redefines the role of Brazilian public banks.

BNDES had received about 500 billion reais in loans from the Treasury during the left-wing administrations of Luiz Inácio Lula da Siva and Dilma Rousseff, O Estado wrote.

The balance outstanding of BNDES loans is 260 billion reais, according to the newspapers.

$1 = 3.7134 reais Reporting by Ana Mano; Editing by Toby Chopra

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