“Public bank presidents will correct credit market,” says Guedes

On Monday, the presidents of public banks will begin their mission of reducing distortions in the Brazilian credit market and balancing the interest rates charged by financial institutions. The statement came from the Minister of Economy, Paulo Guedes, who participated in their inauguration ceremony in the Planalto Palace.

According to Guedes, interventions made by past governments in public banks have contributed to making credit cheaper for large companies and more expensive for the rest of the population, an imbalance which should be corrected by the new management.

By BrazilGovNews

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