BRASILIA, June 20 (Reuters) – Brazilian states will get a six-month grace period on debts with the federal government, followed by a year and a half of reduced payments, President Michel Temer announced on Monday.
Temer announced the agreement by Twitter message during a meeting with the country’s state governors who are seeking his help to avoid defaulting on debt to the federal government during the country’s worst recession since the 1930s.
Five credit lines from national development bank BNDES will also be exten…
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