Managing director of IMF meets with Lula

10/01/2006 - 13h43

Carolina Pimentel
Reporter Agencia Brasil

Brasília – Yesterday president Luiz Inácio Lula da Silva met with the managing director of the International Monetary Fund, Rodrigo de Rato, for an official recognition of the anticipation of an IMF debt payment by Brazil. Brazil was supposed to pay US$15.5 billion in installments until December 2007, but decided to anticipate the payment and economize some US$900 million in interest payments.

Meanwhile, minister of Finance, Antonio Palocci, confirmed that Brazil will also anticipate a debt payment of US$2.6 billion to the Paris Club.

Translation: Allen Bennett