Nelson Motta
Reporter - Agência Brasil

Brasília - The president of the National Industrial Confederation (CNI), Armando Monteiro Neto, declared that he is in favor of tax exemptions for foreign investors who buy government bonds.

"This could have a positive impact on interest rates in the short-term," he said, adding that it would also increase the volume of financing available in the private sector.

Monteiro Neto made his remarks following a meeting with president Luiz Inacio Lula da Silva, the minister of Finance, Antonio Palocci, the head of the secretariat of the National Treasury, Joaquim Levy, and representatives of the Sáo Paulo stock market (Bovespa), the futures market (BM&F) and the industrial federations of São Paulo and Rio de Janeiro.

Translation: Allen Bennett

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