Brazil Kisses IMF Debt GoodbyeAs promised, Brazil settled its $15.5 billion tab with the International Monetary Fund, two years ahead of schedule. The country expects the prepayment will save it $900 million in interest. The original repayment schedule called for a $7.03 billion installment this year and an $8.43 billion installment in 2007. Brazil borrowed heavily from the IMF between 1998-2002, although strong economic fundamentals have since provided extra cash for the government. The move is another feather in the cap of Brazil, which has received great praise for the savvy management of its debt. IMF Managing Director Rodrigo de Rato praised "the excellent track record of policy managem
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