Brazil will pay foreign banks $350 million...
Brazil will pay foreign banks $350 million Friday in back-interest payments as part of a new debt accord that normalizes the country’s relations with its bankers, U.S. banks and the Brazilian government said. They said Brazil would pay $350 million to cover interest due in March, and another $1 billion next Thursday to cover back-payments for April and May. Under the terms of an agreement announced by Finance Minister Mailson Nobrega, the banks have agreed to reschedule $62 billion of Brazilian debt--most of its $76 billion commercial debt--and lend the country $5.2 billion more.
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