Brazil to further increase liquidity for small banks
31/10/2008 17:28
The Brazilian government is considering additional measures to ensure
liquidity for small and medium-sized banks, the country's Central Bank
president, Henrique Meirelles, said yesterday.
He said the government has
already taken steps to increase bank liquidity but the effect on small and
medium-sized banks had not been as expected, which had made it necessary for the
government to consider specific measures aimed at smaller banks.
Meirelles
did not provide further details on what measures would be taken or when.
He
said the Brazilian government had spent US$32.8 billion since mid-September to
fend off the effects of the international financial crisis.
Brazil's strong
domestic demand, diversification of exports, foreign exchange reserves and the
Central Bank's commitment to inflation control will help the country weather the
economic turmoil, he added.
Xinhua
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