Financial and Banking News
Brazilian Deal Agreed As Write Offs Increase
Brazil and its foreign bank creditors reached agreement last week on finalterms of a deal under which Brazil resumes repayment of its foreign debt and thebanks lend some $3bn worth of new money in 1988. Brazil is to make a $1.2bnpayment of its delayed interest accrued on medium and long-term debt duringOctober, November and the first half of December. $400mn of this...