Brazil government, banks in talks about bailing out companies
BRASILIA/SAO PAULO (Reuters) – Brazil’s Economy Ministry is talking with banks about providing bailouts to sectors such as airlines, automakers, power companies and large retailers to help them survive the coronavirus crisis, bank executives confirmed on Wednesday in live presentations.
Reuters reported earlier on Wednesday that Brazil’s biggest lenders – such as Banco Bradesco, Itau Unibanco Holding SA (ITUB4.SA), Banco Santander Brasil and Banco do Brasil SA (BBAS3.SA) – have discussed with the country’s central bank and development bank BNDES how and which financial instruments could be used to rescue embattled companies.
By Marcela Ayres and Carolina Mandl via Reuters