Brazil's BNDES head calls for lower interest rates, higher taxes on online betting
ReutersMay 26, 2025 1:57 PM
BRASILIA, May 26 (Reuters) - The head of Brazil's state development bank BNDES, Aloizio Mercadante, called for on Monday a reduction in the country's benchmark interest rate Selic and proposed higher taxes on online betting.
Speaking at an event hosted by news outlet Brasil 247 in Rio de Janeiro, Mercadante said that a recent controversial hike in the financial transactions tax (IOF) has a contractionary effect, as it raises the cost of credit.
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