Brazil Suspends Certain Payments: The Brazilian government has suspended some of its foreign loan payments to Paris Club countries and asked for a renegotiation, a Central Bank spokeswoman said. The suspended payments are those with due dates on or after today that were set under a 1988 foreign debt accord and have not yet been renegotiated, the spokeswoman said. The Paris Club is an informal group of industrialized nations owed debts by developing countries. The suspension of payments does not affect a pending $35-billion Brady debt reduction with commercial banks.
From Times Staff and Wire Reports