Lourenço Melo
Reporter - Agência Brasil

Brasília – Brazil's foreign debt is down 14% since December, reports the National Treasury. That means it dropped from US$75.9 billion to US$65 billion. As a result, Brazil's foreign debt total at the moment is almost exactly the same as the country's total foreign reserves.

The main reason for the decrease in foreign debt was a series of operations resulting in the redeeming of a total of US$10.2 billion in Brady bonds by the government. Taking into consideration interest payments, the country economized US$14.7 billion.

Translation: Allen Bennett