Brasília – Brazil is going to provide US$ 10 billion in funding to the International Monetary Fund (IMF), as informed today (10th) by the minister of Finance, Guido Mantega. “This is the second important step that Brazil is taking in order to become a creditor rather than a debtor to the fund,” said Mantega.
The operation, which will be of a new modality, consists of the country purchasing IMF bonds. According to Mantega, the advantage of the operation is that the funds will remain in the Brazilian reserves.
*Translated by Gabriel Pomerancblum
