Brazil to End Payment Moratorium: Brazil will...
From Times Staff and Wire Reports
Brazil to End Payment Moratorium: Brazil will announce the end of its undeclared moratorium on interest payments on its foreign debt to commercial banks, the O Estado de Sao Paulo newspaper reported. The Third World’s largest debtor nation began skipping most interest payments on its medium- and long-term bank debt of $60 billion in July, 1989. Arrears on the debt now total over $8.5 billion, the government has said.
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