- "By April or May, when credit rating agencies visit Brazil, fiscal accounts will have improved," Bloomberg says, summing up comments from Guido Mantega, Brazil's finance minister.
- In an effort to address concerns about the country's budget deficit, Mantega says Brazil's state lender BNDES will cut lending by a fifth in 2014.
- Next year, the development bank will give out around $66.6B in new loans, slightly less than it provided in 2012.
- Both S&P and Moody's have cut their outlook on the country this year amid concerns about rising debt levels tied to public lending.
- Brazil ETFs - EWZ, BRF, EWZS, BRAF, BRXX, UBR, BZQ, BRAZ, BRAQ, BRZS, BRZU
Brazil state lender to reduce loans
Nov 3 2013, 19:25 ET