Payback time: (Brazil's) debt ruled as unjust.

New Internationalist | September 1, 1999| | Copyright

AN unprecedented `court' held session in Brazil to pass sentence on the country's external debt. The jury ruled that the debt had already been repaid and that requiring continued payment is illegal, as is postponing development `in order to honor those commitments'.

The External Debt Tribunal drew 1,200 participants including Brazilian judges and lawyers, unemployed city dwellers and Pataxo indigenous people from the Amazon.

With a debt of $235 billion, Brazil is Latin America's most indebted country. `Between 1989 and 1997, Brazil paid $216 billion in ...

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