2023-06-13 12:24:02
Luiza Trajano, president of the Board of Directors of Magazine Luiza, admitted the possibility of bankruptcy of retail companies and asked that the president of the Central Bank, Roberto Campos Neto, reduce the interest rate to avoid the collapse of the sector.
The businesswoman made the statements on Monday the 12th, during an event organized by the Institute for the Development of Retail (IDV). At the meeting, Luiza said that she had already called Campos Neto “more than 20 times”. The reason: talk about reducing the Selic rate, currently at 13.75% per year.
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“Our reality is different”, argued Luiza. “Retail pulls everything: industry, production. We are having an excess of product, and the industries have nowhere to put it. This bitter medicine did not always solve inflation either.”
“A lot of people will break”
The businesswoman said that the request for a reduction in interest rates is intended to benefit small and medium-sized companies. “We’ve already had a lot of bitter medicine,” he said, referring to retail companies. “I would like to ask, please, to give a sign that you are going to lower these interest rates.”
Campos Neto explained to businessmen that future interest rates in Brazil had been considerably reduced, which would open space for a cut in the Selic rate. Luiza said that she understands the explanations, but stressed that “the patience of Brazilians is running out”.
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“It is one thing, inside a room, for us to think technically”, said the businesswoman. “But another thing is reality. Without a sign, we won’t hold out. How many stores here were closed? I wanted to ask you, on behalf of Brazilians, to give a signal — and it’s not 0.25 points, we need more.”
In response, Campos Neto said he should return to the event in a year and said he was sure that interest rate changes would be positive. “There are going to be a lot of broken people already”, complained Luiza.
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