Mercadante says it is not time for BNDES to sell shares

The president of the National Bank for Economic and Social Development (BNDES), Aloizio Mercadante, said this Monday (20) that this is not the time to sell shareholdings. According to him, the sale of assets should only be made in a context in which they are valued.

“It is not the time now. The moment is an international crisis. Stocks on the Stock Exchange, in general, have fallen, the world and Brazilian economies are unable to make an IPO (public offering of shares), launch bonds to finance”, explains Mercadante. “If there is disinvestment, we will do it with all prudence”.

He stated that the investments by BNDESPar, the bank’s shareholding arm, were resources well invested, growing, according to him, more than double the Ibovespa from 2000 until today. Mercadante said he believes, however, that there is no reason for the BNDES to be a shareholder in “mature companies”.

The BNDES president participated in the opening of the Sustainable Development Strategies for the 21st Century conference, which brings together specialists in the subject until this Tuesday (21st), at the bank’s headquarters.

During his speech, Mercadante stated that the BNDES can no longer be used as a source of funding for the Treasury. “That is not the role of the bank. It is to finance the economy, the small entrepreneur, industry, growth, job creation”.