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Lula-Businesses Must Speak Out Against Current Interest Rate Level

BRAZIL

Comments from Brazilian President Luiz Inacio Lula da Silva hitting wires. Speaking at the Brazilian Development Bank (BNDES) he states that following defaults laid at the door of former President Jair Bolsonaro, both Cuba and Venezuela will 'certainly' pay their debts to BNDES during his term in office as they are 'allies'.

  • Offers commentary on the Brazilian interest rate environments, says there there is 'no explanation' for the current interest rate levels. Says BNDES will 'help bring down interest rates'.
  • Claims that Brazil has a 'culture' of high interest rates, and that businesspeople should 'speak out' against current interest rate levels.

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