Brazilian lawmakers send BNDES bill to Senate for final vote

BRASILIA - 30 August 2017: Brazil’s lower house of Congress rejected amendments to a bill that creates a market-based benchmark rate for state lender BNDES, leaving the measure ready for a final Senate vote ahead of a Sept. 6 deadline.

The proposal is one of the government’s top priorities to fix long-term public finances and pave the way for lower interest rates, as it reduces the scope for discretionary subsidies through BNDES lending.