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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Brazil may tap SWF to fuel economic growth

Posted on 02 December 2008

From Bloomberg: Brazil may tap 15 billion reais ($6.35 billion) put aside for a yet-to-be-approved sovereign wealth fund to ease the impact of the global credit crisis next year, Finance Minister Guido Mantega said.

Brazilian companies have been unable to meet 25 percent to 30 percent of their financing needs as external credit dried up, Mantega said. The wealth fund might help the state development bank known as BNDES boost lending to local companies, former central bank director Carlos Thadeu de Freitas Gomes said in an interview….. Full Article: Source


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