November 12, 2018 / 10:22 AM / a month ago

Brazil taps World Bank CFO as new BNDES chief: source

RIO DE JANEIRO, Nov 12 (Reuters) - World Bank chief financial officer and former Brazilian finance minister Joaquim Levy has been invited by Brazil’s incoming government to become the new president of state development bank BNDES, a source with knowledge of the matter said on Monday.

Levy is almost certain to accept the post, the source told Reuters, requesting anonymity due to not being authorised to speak publicly on the appointment.

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 former 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 BNDES declined to comment.

Newspaper Estado de S. Paulo reported on Sunday that the government had invited Levy to take up the position.

Reporting by Rodrigo Viga Gaier Writing by Gram Slattery Editing by Raissa Kasolowsky

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