AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The Brazilian Development Bank (BNDES) implemented a new credit line amounting to BRL 7 billion (ca. USD 4.2 billion) for the pre-shipment phase of exports of consumer goods, in a decision announced on 29 April 2010. The initial interest rate is 7% per year until the end of June when it will be increased to 8% per year.
It is worth noting that on 29 April 2010 the Brazilian central bank's target overnight interest rate was 9.5%, suggesting a degree of subsidisation is factored into the credit line.
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