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The National Bank for Economic and Social Development (BNDES) is close to reaching an agreement with the federal government that can anticipate in 20 years the payment of loans granted by the National Treasury during the governments of former presidents Luiz Inácio Lula da Silva and Dilma Rousseff
One of the alternatives provides for the return of about 25 billion reais per year until 2040. The other option is to anticipate the payment in 15 years, until 2045.
The badessment to the government is that the accuracy of a fixed payment schedule will represent a "turning point" in the dependency phase of the Treasury Resource Bank .
Treasury loans to the BNDES, which exceed R $ 500 billion, supported the policy of stimulating economic growth. financing to companies in specific sectors, with interest rates well below the market and subsidized. This policy was known as "national champions".
The timing negotiation with the government is about an amount of about R $ 250 billion of bank debt with the union expiring until 2060. This amount does not take into account the return of the other R $ 70 billion, which was agreed with the Ministry of Finance at the end of this year, but that could be postponed until 2019. According to Estadão / Broadcast, it is on the bargaining table and
The government has relied on these resources to ensure compliance in 2018 with the "rule of thumb" – a standard set out in the Constitution, which prevents the issuance of debt by the Treasury to pay for budget channel expenses, such as the salary of the servers. As the rise of the dollar will increase the central bank's earnings this year and this amount will be transferred to the federal government, the return of the BNDES is no longer so urgent in 2018.
A source involved in the negotiations has said the negotiations with the BNDES Accelerate repayment of loans and help reduce the country's gross debt The advantage for the government is to set a specific payment deadline and give a sign of the new size of the bank that has already begun to limit its operations and to lend less.
In annual payments to the Treasury, the BNDES should reduce disbursements to the equivalent of a maximum of 1.2% of gross domestic product (GDP) per year. This percentage was already 2%. The forecast does not take into account the new financing that the bank will make – a policy that the institution intends to strengthen.
The BNDES recently attracted 1.7 billion reais in the market, with a demand bid. At the bank, however, there is still resistance to closing a schedule because of concerns about the bank's future ability to offer credit.
At the table. The proposal with the most chance of being approved is the payment until 2040, which provides a 6% limit for the TJLP (long-term interest rate) to correct the loans per year. In this case, the interest can not be greater than this amount. What surpbades will be accumulated and capitalized at the end of the period, in 2040. In the other option, with payment until 2045, there is no restriction of interest.
The establishment of a timetable for the return of BNDES funds to the Treasury has already been recommended by the technical sector of the Federal Court of Accounts (TCU) and the prosecutor's office at the TCU.
According to the report, although the BNDES and the Treasury anticipate the definition of this calendar, the discussion of the question between the ministers is considered necessary for the TCU to sign an agreement.
Without a firm position of the Court of Auditors on the irregularity of these operations, as defends the technical field, there will be no impediment to a new government that wants to repeat the practical, (f, b, e, v, n, t, s) {if (f.fbq) returns; n = f.fbq = function () {n.callMethod?
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