Brazil is poised to announce around 50 billion reais ($12.3 billion) in loans to boost the economy despite the worst economic downfall in the country in more than a century.
A person privy to the matter disclosed Finance Minister Nelson Barbosa will unveil the total amount of credit with Brazilian President Dilma Rousseff as the latter spearheads a Council for Economic Development meeting.
The source added Barbosa will reiterate his commitment to adjusting the country’s finances even as he reveals the credit plan.
The Finance Ministry did not immediately respond to phone and email requests for comment.
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