The Brazilian government is expected to secure its reform to BNDES financing with the approval of a new benchmark rate called TLP before the legislation ‘expires’ on 6 September.
Lucas Aragao, partner and director at Arko Advice, a political risk consultant in Brasilia, says the proposals faced stiff opposition in the committee stage but now that the bill has moved to the floor of the Congress he expects the government to be able to secure a vote and win approval for the reform (with a simple majority) before the early-September deadline.
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