INTERNATIONAL

Brazil Agrees to Restructure Debt: Brazil, struggling with the largest foreign debt of any developing country, signed an agreement to reschedule $35 billion it owes to foreign banks and other private creditors. Brazil is the last major Latin American debtor to work out a so-called Brady deal. Such plans have been crucial in ending the debt crisis that threatened the existence of some U.S. banks and plunged Latin America into a “lost decade” of economic stagnation in the 1980s. However, Brazil’s Brady deal will not become final until the country works out an agreement on economic reform with the International Monetary Fund. The creditors have set an April 15 deadline for that accord.