SAO PAULO Nov 23 Brazil's federal accounting
court allowed on Wednesday state development bank BNDES to make
an early repayment of 100 billion reais ($30 billion) in loans
owed to the National Treasury, boosting government efforts to
cut a ballooning debt burden.
The ruling, which was widely expected, by the court known as
TCU is key to also helping the federal government cut
debt-servicing costs and reduce the burden of subsidized loans
on the budget. The repayment, as planned by the National
Treasury and the BNDES, will be done in installments.
The early debt repayment will be accounted as financial
revenue, meaning it will not have an impact on the federal
government's primary budget balance, officials had said
(Reporting by Marcela Ayres and Alonso Soto; Writing by
Guillermo Parra-Bernal; Editing by Chizu Nomiyama)