Federal offences
Article Abstract:
Brazilian state governments are privatizing banks, though this has yet to occur with federally owned banks which have been subject to political influence. The Brazilian National Development Bank (BNDES) has been criticised for a loan to Ford Motor to set up a plant in Bahia, and critics fear that this could mean job losses elsewhere in Brazil. There are five federal banks, which have overlapping activities. Private banks tend to be unable to supply long-term capital and this is the role of the BNDES.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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A fresh start? Selling Venezuela's banks
Article Abstract:
The Venezuelan government will begin auctioning the country's banking system on Dec 18, 1996. Successful sales of the largely insolvent banks will indicate that economic reform is gaining strength. There are doubts as to whether a new banking system will be more sound than its predecessor.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1996
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And for our next crisis: emerging-market banks
Article Abstract:
Brazil spent about 4.25% of its GNP to bail out Banco Economico and Banco Nacional. The banks became troubled due to politicians forcing them to lend to political cronies, which the government admitted. Critics assert that the banks should have been liquidated rather than rescued.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1996
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