August 24, 2017 / 12:18 AM / a year ago

BNDES in talks to return $25 bln to Brazil Treasury, source says

RIO DE JANEIRO, Aug 23 (Reuters) - State development bank BNDES is in talks with Brazilian government officials over the return of about 80 billion reais ($25 billion) that the National Treasury lent it for successive capital injections in recent years, a person with direct knowledge of the plan said on Wednesday.

Talks began recently as the government insisted BNDES return the money, said the person, who was not authorized to speak publicly about the matter. The transaction could happen before the end of the year, the person added, provided it remains affordable for BNDES.

Last year, BNDES returned about 100 billion reais of the 500 billion reais the Treasury injected into the bank between 2009 and 2014. Returning the money could help the government narrow a larger-than-expected budget deficit this year, the person said.

$1 = 3.1406 reais Reporting by Rodrigo Viga Gaier; Writing by Guillermo Parra-Bernal; Editing by Sandra Maler

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