Former Brazilian Finance Minister Joaquim Levy will be the next President of the Brazilian government’s National Development Bank (BNDES), a spokesman for Finance Minister-designate Paulo Guedes said Monday. Levy will replace Dyogo Oliveira in the key job. Levy is currently a Managing Director of the World Bank in Washington. He holds a PhD in economics from the University of Chicago. Levy served as Brazilian Treasury Secretary from 2003 to 2006. He was Finance Minister for one year in 2015. He quit when plans to reduce Brazil’s fiscal deficit were frustrated.
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