State and Market Need Join Forces, says Brazil’s BNDES Chief

The president of the BNDES (Banco Nacional de Desenvolvimento Econômico e Social – National Bank for Economic and Social Development),  Guido Mantega, says that Latin American development depends on greater coordination of governments and markets.

He went on to say that development banks were important instruments in that process. Speaking at the 35th General Assembly of the Latin American Association of Financial Institutions for Development (Alide), Mantega said:


“Development banks were created in the belief that certain sectors and strategic activities require government support. When they thrive there are jobs, income and government revenue, not to mention a reduction in the inequalities that plague our countries.”


Mantega also cited the importance of development banks in providing financing for economic growth and said that governments should be more active in promoting development.


Mantega, who was elected the new president of Alide, concluded by pointing out that the 35th General Assembly was taking place following a period of difficulties and low growth which is now looking like a new cycle of development.


ABr

Tags:

Ads

You May Also Like

Brazil Once Again Tells IMF It Will Not Draw Money

The Executive Board of the International Monetary Fund (IMF) has completed the eighth review ...

RAPIDINHAS

By A partida era na Central com seu relógio enorme, o maior do mundo. ...

Made in Brazil Is Common Sight in Qatar’s Malls and Markets

In the supermarkets of Qatar, the words chicken and Brazil are very close. Brazilian ...

P&WC to Power Brazil’s Embraer New Light Jets

Brazilian aircraft manufacturer Embraer has selected Pratt & Whitney Canada (P&WC) to provide engines ...

Brazilian Fashion Gets California Touch for Next Summer

Brazilian stylist Faissal Makhoul is hoping for a hot summer in 2009. To create ...

Brazilian Industry Back at Level Where Global Crisis Started

According to Brazil’s National Confederation of Industries (CNI), Brazilian industry revenues are growing in ...

Brazil Gets Lion Share of Foreign Investment in Latin America

Foreign direct investment (FDI) in Latin America and the Caribbean was record last year, ...

Rio Arrests Drug Lord of Rocinha, Its Biggest Favela, in Preparation for Olympics

Earlier today, Rio police arrested Antonio Francisco Bomfim Lopes, alias Nem, the drug lord ...

Lavagem do Bonfim at Salvador, Bahia, Brazil

Jesus and the African Gods in Brazil’s Northeast

It must be hard to be a religious fundamentalist in Salvador, Bahia, in the ...

Three Days of Rains Have Already Killed Over 50 in Rio

In Rio, Brazil, mudslides caused by heavy rains have killed at least 30 people ...