Creditors Give Brazil a Reprieve
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From Reuters
NEW YORK — A committee of Brazil’s creditor banks today agreed to give the country a further 140-day reprieve on its $103-billion foreign debt, which is the highest of any nation in the world.
The 14-bank committee, chaired by Citibank, agreed to recommend to 700 bankers around the world that they forgo demanding repayment of debt principal for 140 days when a current agreement to defer repayments runs out Aug. 30.
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