Brazil State Bank Rejects Calls to Curb Lending

Brazil’s state development bank President Luciano Coutinho rejected criticism that record lending is placing a burden on the central bank to keep inflation in check and slowing the reduction of public debt.

Coutinho said lending at the bank, known as BNDES, which rose 41 percent in the first five months of the year to 46 billion reais ($25.9 billion), is helping increase investment and boost production in Latin America’s largest economy, which is needed to keep prices stable.