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Bankers Fear Brazil May Stop Payments

June 22, 1989|From Reuters

LONDON — Brazil's failure to settle its differences with the International Monetary Fund and World Bank has raised concerns that the Third World's largest debtor may once again stop interest payments to Western banks, bankers said Wednesday.

The Brazilian government is trying to persuade the two Washington-based agencies, as well as its bank creditors, to free up more than $3 billion of loans stalled by Brazil's inability to meet certain economic targets.

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