Brasília, 1/15/2004 (Agência Brasil - ABr) - An improvement has occurred in the profile of Brazil's debt. The amount linked to the exchange rate (dollar) has fallen, while pre-fixed debt is up, according to a report on the debt in 2003.

At the end of 2002, the amount of exchange rate-linked debt was 45.8% of the total debt. At the end of 2003, that had fallen to 32.4%.

At the same time there has been a rise of 520% in debt that is pre-fixed; rising from 1.5% of total debt in December 2002, to 9.5% at the end of 2003.

There has also been a reduction in the amount of short-term debt. The amount of the debt which falls due within the next 12 months fell from 34.6% at the end of 2002, to 30.7% this December. All of which translates into less vulnerability for Brazil. (AB)