Brazil’s Reserves Slump Due to Early IMF Pay-Off

Brazil’s international reserves stood at US$ 53.8 billion at year-end 2005, down US$ 10.5 billion from November, mainly as a consequence of the advance repayment of the country’s debt to the International Monetary Fund (IMF).

The sale of US$ 500 million worth of bonds abroad in December, also contributed to the situation, according to the foreign accounts data released today by Brazil’s Central Bank.

The country’s total foreign debt was US$ 181 billion in October, 2005, US$ 1.7 billion less than in September.

Medium-term foreign debt amounted to US$ 165 billion in October, US$ 2.1 billion less than in September, while short-term foreign debt rose US$ 397 million, to US$ 16.8 billion.

ABr

Tags:

You May Also Like

Striking Police in Bahia, Brazil, Warn: “Expect a Bloodbath If They Evict Us”

Brazilian Army troops locked down the northeast Brazilian city of Salvador on Sunday as ...

Among World’s 100 Best Schools Brazil’s USP Advances 26 Points

Brazil's USP, the University of São Paulo, was considered the 87th best university in ...

Brazilian Chancellor Has Full Schedule in Geneva

Brazilian Minister of Foreign Relations, Celso Amorim, participated Thursday, June 29, in the ministerial ...

Slavery Lives on, Say 76% of Brazilians

According to Brazil’s last census, the black population makes up 50 percent of the ...

Minority of Sectarians Blocks Peace in Middle East, Says Brazil’s Lula

The president of the Palestinian National Authority (PNA), Mahmoud Abbas, asked for support from ...

U.S. Sneezes and Brazilian Stocks Plummet

Brazil and Latin America’s stocks tumbled, in line with the U.S. market, amid concerns ...

Five Million Kids Still Working in Brazil

Despite all the efforts by the Brazilian government to end child labor, there are ...

43% of World’s Chicken Come from Brazil

Earnings in dollars from Brazil’s chicken exports rose 44.2% in 2004, finishing the year ...

Song of the South

Judith Kay is fascinated with Brazil and its music. After falling in love with ...

Getting High in Porto Alegre or If Only Lula Were My President

Dateline: Porto Alegre, Brazil. If the critics of globalization who massed here are divided ...