Brasília, 12/16/2003 (Agência Brasil - ABr) - The board of directors of the International Monetary Fund has approved a US$14.8 billion loan agreement with Brazil. Out of that total, US$6.6 billion is new money and the remaining US$8.2 billion is actually the last tranche of the September 2002 US$30 billion emergency loan agreement that Brazil has not withdrawn.

According to the managing director of the IMF, Horst Kohler, recent Brazilian economic performance has been "exemplary." (AB)