Brazil's Fraga urges Lula reforms to help debt

BRAZIL - Brazil's Central Bank President Arminio Fraga on Monday urged President-elect Luiz Inacio Lula da Silva to press ahead with reforms that would assuage investors and cut the cost of servicing Brazil's $260 billion mountain of debt.

Fraga said such steps as putting an end to cumulative nature of taxes on production, giving operational autonomy to the Central Bank and extra pension contributions for public servants had to be taken as soon as possible reported Reuters.

"This would be an ex

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