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. Last Updated: 07/27/2016

Brazil Nets IMF Deal




BRASILIA, Brazil -- The International Monetary Fund has paved the way for a new credit lifeline for Brazil after ending weeks of talks on how to save Latin America's powerhouse economy from a currency crisis.


Shailendra Anjaria, head of the IMF's external affairs department, said Friday the deal for Brazil to get a second payment would be probably be recommended to the fund's board Monday.


The IMF, worried that Asia-style chaos might spread to South America and trigger new global turmoil, put together a $41.5 billion package for Brazil late last year with support from the world's top industrial nations.