November 12, 2018 / 2:03 AM / a month ago

UPDATE 1-Brazil names World Bank managing director as BNDES head- news column

(Adds BNDES’, World Bank’s responses declining to comment)

SAO PAULO, Nov 11 (Reuters) - Joaquim Levy, managing director and World Bank chief financial officer, has been tapped to be the next president of Brazil’s development bank BNDES , according to a column in newspaper O Estado de S. Paulo published on Sunday.

The columnist, who did not cite a source for the information, wrote that “it is known in the corridors of the World Bank... Levy is emptying his drawers.”

Levy joined the World Bank Group in February 2016, according to the institution’s website. He had previously served as Brazil’s finance minister under President Dilma Rousseff, who was impeached in August of that year for illegally using money from state banks to bankroll public spending.

The World Bank and the BNDES declined to comment. (Reporting by Ana Mano; Editing by Sandra Maler)

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