International and Banking News
Brazil Meets Interest Payments
With the payment last week of $963mn in interest to commercial bankcreditors for the month of June and the first half of July, Brazil is for thefirst time up to date with its interest obligations. The payment coincided witha meeting of the Executive Board of the International Monetary Fund (IMF) toapprove a stand-by loan for Brazil worth a reported $1.4bn. Brazil's Paris clubcreditors...