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Brazil's BNDES to repay government $10 bln on Wednesday -source
September 26, 2017 / 11:57 PM / in 2 months

Brazil's BNDES to repay government $10 bln on Wednesday -source

RIO DE JANEIRO, Sept 26 (Reuters) - Brazil’s state development bank BNDES will return 33 billion reais ($10.4 billion) to the National Treasury on Wednesday, a source in the bank told Reuters on Tuesday.

The payment is part of the 50 billion reais that BNDES has committed itself to repay on loans made for successive capital injections by the bank.

Returning the money will help the government narrow a larger-than-expected budget deficit this year.

BNDES will study repayment of the remaining 17 billion before the end of year, said the source, who had direct knowledge of the plan but was not authorized to speak publicly about the matter.

BNDES declined to comment on the matter.

Last year, BNDES returned about 100 billion reais of the 500 billion reais the Treasury injected into the bank between 2009 and 2014.

$1 = 3.1671 reais Reporting by Rodrigo Viga Gaier; Writing by Anthony Boadle; Editing by Andrew Hay

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