June 12, 2019 / 2:57 PM / a month ago

Brazil's Caixa returns 3 bln reais to Treasury, eyes 20 bln reais transfer

BRASILIA, June 12 (Reuters) - Brazil’s state-owned bank Caixa Economica Federal is returning 3 billion reais ($1.825 billion) to the Treasury, funds which will be used to reduce the public debt, the bank’s president Pedro Guimaraes and Economy Minister Paulo Guedes said on Wednesday.

Guimaraes said the aim is to return 20 billion reais to the government this year, and Guedes said that other state-owned banks will follow Caixa’s example and repay previous loans made by the Treasury. (Reporting by Mateus Maia Writing by Jamie McGeever)

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