Brazil’s foreign debt falls 3.5 percent in 2006; now at lowest level since 1947

26 January 2007

Sao Paulo, Brazil, 26 Jan – Brazil’s foreign debt fell 3.45 percent in 2006 to US$168.86 billion reaching the lowest level since 1947, the Brazilian central bank said Thursday.

The head of the bank’s Economic Department, Altamir Lopes, said that the foreign debt to gross domestic product (GDP) ratio was 17.6 percent.

Lopes said that the ratio was also the lowest ever recorded in Brazil, following Brazil’s improved foreign indicators over the last few years.

Lopes also said that almost 90 percent of Brazil’s total foreign debt, around US$151.66 billion, had medium and long-term payments deadlines.

Just US$17.21 billion have short term maturities, of less than a year, Lopes said.

Lopes also noted that the public sector’s share of foreign debt (US$75.9 billion) was the lowest since 1994, following the acquisition of bonds in 2006. (macauhub)