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:

  • Show Comments (2)

  • Guest

    Hey dumbo,
    That’s NOT longer term foreign debt ?
    it is eternal term foreign debt.st like that?

    You guys really believe that Brazil will pay off the debts just like that?

  • Guest

    And what about….
    …longer term foreign debt ?

    You have some foreign debts maturing in 10 years, in 20 years and in 30 years.

    Are these debts all considered – medium term debts – in the unusual definitions of Brazil government ?????????????

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

4,000 Soldiers Ready for Action in the Amazon After Nun’s Slaying

General Jairo César Nass, who is in charge of the military operation in the ...

Dollar Fall Scares Brazilian Industry

Exports by the Brazilian textile industry may be damaged by the depreciation of the ...

Bolivia and Corruption Crises Keep Market Going South in Brazil

Latin American shares traded in various directions on the day. Brazil tumbled for a ...

Brazil’s Central Bank Chief Promises Lower Interests

The president of Brazil’s Central Bank, Henrique Meirelles, says that the higher primary account ...

President Rousseff Says Brazil Is Getting into Era of Prosperity with Drop in Inequality

According to Brazilian president Dilma Rousseff, Brazil is moving into an ‘era of prosperity’ ...

At the OAS Brazil Reaffirms Stand Against Terror

This week, at the headquarters of the Organization of American States (OAS), in Washington ...

When in Brazil…

Doing business in Brazil requires an understanding of that country’s differing work ethics. There ...

Haiti to Be Under Brazil’s Troops Watch One More Year

Brazilian troops may remain in Haiti another year, until the presidential elections in December, ...

Arab Mission Proposes Joint Ventures with Brazil

Bilateral trade (export plus imports) between Brazil and the Arab countries was over US$ ...

Plan: No More Dollar in Deals Between Brazil and Mercosur Partners

The chiefs of state of Mercosur will consider this week during the summit in ...