Stênio Ribeiro
Reporter Agência Brasil

Brasília – Even with a successful US$500 million bond issue (sovereign Global 2019 bonus), Brazil's international reserves fell US$822 million last month. The main reasons for the drop were a US$310 million outlay to the IMF, interest payments on bonus bonds totalling US$177 million and another US$117 million paid in interest on reserves. And a big US$829 million to cover various types of royalties - licenses and copyrights, plus transportation and travel abroad, and rent on equipment.

In April Brazil had reserves totalling US$61.591 billion. In May they fell to US$60.709 billion.

Translator: Allen Bennett