Miley's government says it is seeking a “Lula model” for bank privatization

Argentine Interior Minister Guillermo Francos said today, Friday (April 26, 2024), that the government intends to use… “Lola Model” To privatize Banco de la Nación, the Argentine state bank. The Argentine Federal Administration intends to list 49% of the financial institution's shares on the stock exchange, as the president is doing Luiz Inacio Lula da Silva (PT) It did so in 2010 with Banco do Brasil. The information is from No nation.

“President Lula, in Brazil, led Banco do Brasil to capitalize on the New York Stock Exchange. The bank is listed outside the country and has impressive capital. It is the largest bank in that country.”The minister said, highlighting the ideological differences between the two governments.

However, the new bus law drafted by the government does not contemplate the possibility of privatizing part of the banking institution. According to Franco, many sectors of Argentine politics advocate the maintenance of state-owned enterprises in the country.

Thus, criticizing Argentine politicians, the minister said the country was in chaos “The old concept of not allowing the joint action of private and public capital“.

Francos also said that if part of Banco de la Nación were privatized, transactions at the institution would become more transparent and efficient.

“All this thing that is done today is a little hidden: who gets the credit, every now and then we hear a scandal, which was given to a company that went bankrupt. All this, when a company is listed on the stock exchange, is subject to absolute control and transparency.he announced.