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Sovereign Wealth Funds Briefing - Categorized | Investment, Reserve Currencies

Brazil to use forex reserves to aid companies

Posted on 06 February 2009

From Reuters: Brazil has enough foreign currency reserves to help compensate for a drop in international credit lines to the country, Central Bank President Henrique Meirelles said on Thursday.

The bank plans to offer credit lines in dollars, using funds from its reserves, to domestic banks on Feb. 27, March 13 and March 27. The lines, aimed at helping companies with difficulties raising cash to roll over foreign obligations, may total $20 billion, Meirelles said….. Full Article: Source


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