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Lula sanctions the creation of a fixed income bond to stimulate the industry

Summary by CNN Brasil
President Luiz Inácio Lula da Silva signed the law creating the Development Credit Letter (LCD) on Friday (26). The fixed-income securities, subject to tax exemption for physical persons, have the goal of financing investments in infrastructure in the Brazilian industry. The LCD may be issued by the National Economic and Social Development Bank (BNDES) and by the authorized development banks, which can issue up to an annual limit of R$ 10 billio…
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