Pursuant to the Constitution, the Brazilian Senate is vested with powers to establish, at the request of the President, (i) global limits for the consolidated debt of the Federal Government, states, and municipalities; (ii) the terms and conditions of the internal and external financial transactions of the Government, including public sector enterprises, at all levels of government, and (iii) the. [...] Considering the possibility of use of stocks of the external debt and, eventually, the so-called "social currencies" as privatization currency, as well as the imminence of the assets alienation with high value, it is necessary to make an assessment of the possible impact those questions, in particular by the light of the goals of "to contribute to the reduction and improvement of the public debt p. [...] In the Collor Plan I, when propitiating extraordinary fiscal revenues and holding great part of the liability of short-term, created favorable conditions so that, in the ambit of PND, if they concentrated efforts on the ransom of the debt of long period, by means of the priory of the privatization currencies for payment of the alienated assets. [...] At present, the use of privatization currencies has demonstrated to be an efficient mechanism, allowing, on the one hand, the necessary flexibility in the conduction of the privatization process - besides in the case of assets of smaller attractive for the investors - and guaranteeing, on the other hand, guaranteeing the indirect appropriation for the alienating discount with those stocks are nego. [...] In that context, the received of privatization currencies corresponded, in the first three years of the program, more than 90% of the total of the collected resources in twenty-four privatization program accomplished in the period, as it can be observed below in the graph.
- Pages
- 11
- Published in
- United States of America
