A new role

A new role

Comment & Opinion Project & Infrastructure Finance Loans Capital Markets Economy & Policy Brazil

BNDES is changing and Brazil is changing. Interest rates used to be very high in Brazil. But that is no longer the case, and over the next five to ten years our rates will be very similar to other developing countries. The inflationary mechanisms that were present in the Brazilian economy are not as significant as they were. That is a great achievement and it will allow us to keep a more flexible monetary policy in the future. That makes a great difference on how BNDES participates in the economy. Brazil is preparing for BNDES’s new role, but that is a process that will take a few years. We estimate that the country needs between 4% and 5% of GDP to fund infrastructure projects. That means

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