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Drama in Brazil
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Brazil has received a $41 billion life preserver from the IMF and other official institutions, but the country still needs a vote of of confidence and new lines of credit from international banks. The stakes are huge, with the stability of Latin America's biggest economy-and perhaps global markets overall-in question.
If the world economy has a line drawn in the sand, it runs straight through Rio de Janeiro's Copacabana Beach. After Russia's debt debacle, Brazil is the spot where global confidence in emerging economies will be restored-or demolished.
The $41 billion financial life preserver ...
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The real thing.(International Monetary Fund's assistance to Brazil appears to be working)(Brief Article)
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