Wednesday, July 14, 2004


As I noted the other day, the BNDES (the state development bank) is up against it, justifying the loans it's been awarding to cities run by the PT compared to other parties. Of the 29 loans granted in May and June, 13 were to cities run by the PT; the second party to receive the most loans was the PPS with 4; the PSB and PFL got 3 each, while other parties got 2 or less.

According to the Folha, the relevant director at the bank, Márcio Henrique Monteiro de Castro, claims it has nothing to do with politics (but of course!). Instead the reason is more straight-forward: medium and larger cities are more likely to receive such loans, because they are more able to pay them back. "And the PT tends to run medium-sized and larger cities," he says.


Could this be the same bank, which says on its home page that "its objective is to support loans which contribute to the development of the country. From these actions the Brazilian economy's competitiveness will improve and enhance its population's quality of life"?

Unless - of course - you live in a small city.

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