RIO DE JANEIRO (Reuters) – Brazilian development bank BNDES has suspended the payment of interest and principal on debt owed by municipalities and states through the end of the year, chief executive Gustavo Montezano said on Monday.
Speaking in Rio de Janeiro, Montezano said this could save states hit by the coronavirus crisis up to 3.9 billion reais ($790 million), and added that the bank may also make emergency transfers of 456 million reais to 13 states.
(Reporting by Rodrigo Viga Gaier, Writing by Tatiana Bautzer)
