off-the-wire

Brazil's credit package paves the way for capital market the size of the banking market - official

Kitco Media
By Reuters
Published:
Updated:
Reuters

BRASILIA, April 20 (Reuters) - Brazil's Secretary of Economic Reforms Marcos Barbosa said on Thursday that the credit package announced by the government aims to strengthen the credit market in the long term, paving the way for the country's capital market to become as robust or larger than the 5 trillion reais ($988 billion) banking market.

Speaking at the same news conference, Treasury Secretary Rogerio Ceron also said the Inter-American Development Bank (IDB) has formalized the availability of lines for credit operations with Brazilian states and municipalities following the federal government's proposal to provide counter-guarantees for public-private partnerships.

($1 = 5.0609 reais)

Reporting by Marcela Ayres
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