Joaquim Levy resigned Sunday as President of the Brazilian Development Bank (BNDES) after critical comments last week made by Brazilian President Jair Bolsonaro. On Friday, Bolsonaro criticized Levy for hiring “suspicious characters” for top BNDES jobs. Bolsonaro said he was especially dissatisfied with Levy’s pick for the sensitive job of investment director, held by Marcos Barbosa Pinto. Pinto previously served in a key BNDES post during the left-leaning administration of former President Luiz Inácio Lula da Silva. Ex-President Lula is currently serving a jail term for corruption. Pinto also resigned from the BNDES over the weekend.
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