BB CEO, Lula, Haddad and Fávaro meet as a proposal to renegotiate rural debt

BySimon Rousseau Posted on
BB CEO, Lula, Haddad and Fávaro meet as a proposal to renegotiate rural debt

BRASILIA (Reuters)-President Luiz Inacio Lula da Silva called on Thursday a meeting with Finance Ministers, Fernando Haddad, the Civil House, Rui Costa, and agriculture, Carlos Fávaro, to discuss alternatives to solve the debt problem of rural producers.

Also at the meeting are the Minister of Agrarian Development, Paulo Teixeira, and the president of Banco do Brasil (BBAS3), Tarciana Medeiros.

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The government studies alternatives for debt renegotiation and the expectation is for a proposal to be presented until next week.

Banco do Brasil felt the weight of increasing the default of rural producers in its second quarter result and in mid -August executives of the institution, one of the country’s largest financiers in the country, mentioned that bank performance in the third quarter would still be pressured by defaults in the agribusiness portfolio.

Simon Rousseau
Simon Rousseau

Hello, I'm Simon, a 39-year-old cinema enthusiast. With a passion for storytelling through film, I explore various genres and cultures within the cinematic universe. Join me on my journey as I share insights, reviews, and the magic of movies!