Brazil announces intention to repay IMF debt

Brazil announced on Tuesday 13 December its intention to make an early repayment of its entire outstanding obligations to the International Monetary Fund amounting to SDR 10.79 billion (about US$15.46 billion).

The outstanding obligations of Brazil had been contracted under the Stand-By Arrangement that was approved by the Executive Board on September 6, 2002 and extended and augmented on December 12, 2003 (see Press Releases No. 02/40 and No. 03/217).

Mr Rodrigo de Rato, the Managing Director