The World - News from June 27, 1986
The Reagan Administration decided to support a $500-million World Bank loan to Brazil, despite reports that it would oppose new financing to the debt-burdened nation. The loan is intended mainly to pay for food imports and to help Brazil reduce farm subsidies. “We decided it was a good loan,” a senior State Department official said. “We do not have a blanket policy against new loans to Brazil.” The United States had voted last week against another proposed World Bank loan to Brazil, whose foreign debt of $103 billion is the highest of any Third World country.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.