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Exit of BNDES president another ideological whim of Bolsonaro government

bndes joaquim levy Exit of BNDES president another ideological whim of Bolsonaro government

Almost six months in, another member of the Jair Bolsonaro administration has bitten the bullet. The latest victim is Joaquim Levy, the head of the Brazilian Development Bank (BNDES), who resigned on Sunday morning under pressure from the president himself.

The justification for this unrest was Mr. Levy’s appointment of lawyer Marcos Barbosa Pinto to lead the bank’s stock market division. Mr. Pinto served as an advisor to the BNDES during the Workers’ Party government, the group which remains public enemy number one, as far as Jair Bolsonaro and his cronies...

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