 |
| João Carlos Ferraz: BNDES is a means, not an end. It has a programme for investment, but the source of financing is open |
This made recent comments by André Esteves, CEO of BTG Pactual, interesting. “I don’t see any sense in BNDES financing big companies in Brazil that could easily be financed by the capital markets,” he told the Financial Times in August. “There needs to be a tapering of BNDES.” Esteves’s comments relate to the debate that centres on whether or not BNDES’s participation acts to prevent crowding in of the private sector into long-term financing.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
