Portugal Will Contribute $350 Mln To Brazil Aid Package
Dow Jones Newswires
LISBON -- Portugal will contribute $350 million to a financial aid package
for Brazil organized by the International Monetary Fund, a Portuguese
Finance Ministry official said Thursday.
The total package is expected to total around $30 billion dollars, the
ministry official said, speaking on condition of anonymity, though Brazilian
media have reported the package will total more than $40 billion.
According to a report from the Portuguese news agency Lusa on the
package, some $15 billion in aid will come directly from individual
countries, including the Group of Seven Leadnig Industrialized Nations,
Spain, Sweden, the Netherlands, Denmark, Austria and Switzerland.
The remainder will come in the form of an IMF and World Bank
emergency credit line, Lusa reported.
Earlier Thursday local media in Sao Paulo reported that negotiations
between the IMF and the Brazilian government on the support package
have been completed and an official announcement is possible either this
week or early next week.
-By Erik T. Burns; 351-1-319-1863; eburns@ap.org |
