Brazil: Help from Abroad

Few countries are deeper in debt than Brazil. It owes the U.S. $1.2 billion, Europe and Japan $711 million, various international lending agencies $437 million—then there's another $1 billion in short-term debts and interest. The total comes to $3.4 billion, of which $892 million falls due this year, another $354 million next year.

Last week Brazil's major creditors met in Paris to see what they could do about saving the nation from bankruptcy—and give President Castello Branco's revolutionary government a chance to work some sorely needed reforms. At U.S. urging, the economists...

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