IMF agrees to extend Brazil's credit deal

The IMF said on Monday 15 December that it has given Brazil a 15-month extension of its $34 billion loan agreement and will provide $6.6 billion in new funding. The Fund also agreed to Brazil's request for more time to repay about $5.8 billion of loans. These payments will now come due in 2005 and 2006.

Source: Associated Press

Brazil received a 15-month extension of its $34 billion loan agreement with the International Monetary Fund, along with $6.6 billion in new funding, the IMF said Monday.

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