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Ballooning BNDES

12 September 2013 By Christopher Swann

BNDES already lends twice as much as the World Bank. Now Brasilia wants to inject another $9 bln. That’s a bad deal for taxpayers. Easy lending to Eike Batista’s sinking EBX is the latest in a series of flops. The bank drains Brazil’s Treasury without boosting returns.

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