Brazil lands $10bn loan from IMF

BRAZIL - After nearly a week of falling currency, stock and bond markets, Brazilian central bank president Armenio Fraga and finance minister Pedro Malan announced that the country would tap into $10 billion of International Monetary Fund loans. The World Bank also joined in with nearly $1 billion in new funding.

This was welcome news for the battered currency, the real, which has been suffering because of worries that the country is facing increasing challenges to roll over domestic debts. T

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