Brazil: BNDES bends the rules, gives Cuba nearly $1billion
By Fausta's Blog on February 10, 2014
Yes, Cuba, one of the world’s deadbeats. Brazil Tries to Borrow Its Way to Prosperity A five-year credit spree by state banks threatens the country’s competitiveness. The Brazilian government’s development bank—known by its Portuguese initials BNDES—has dumped almost $700 million in subsidized credit into Cuba to finance the renovation of the Port of Mariel. . . .
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