Bruno Bocchini
Reporter Agência Brasil

São Paulo – Minister of Finance, Antonio Palocci, has announced that Brazil will anticipate the payment of an International Monetary Fund loan of US$15.5 billion, which will mean an economy of around US$900 million in interest payments. The loan was to have been paid off in installments ending in December 2007.

Palocci pointed out that whereas the country's total reserves were US$15 billion in 2003. Today the country has US$51 billion, above the IMF loan amount, so the payment will not have a negative effect on its international reserves.

Translation: Allen Bennett