Brazil to Get $3.9 Billion From IMF to Boost Reserves
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18 de abril de 2024Notícias
26.08.2009
Brazil will get $3.9 billion in special drawing rights from the International Monetary Fund, helping increase the country’s record international reserves.
Brazil will add the drawing rights to its international reserves on Aug. 28 and Sept. 9, according to an e-mailed statement sent by the central bank today. Latin America’s largest economy had $214.9 billion of international reserves on Aug. 24.
The IMF is distributing to its members $250 billion of special drawing rights as part of a plan designed in the G-20 meeting last April to help boost liquidity amid an international financial crisis.
The countries may convert the SDRs into U.S. dollars, euros, yen or other currencies in case they need money to balance their external accounts.
Countries like Brazil, which has “robust” international reserves, may be asked by the IMF to buy special drawing rights from other nations in need of dollars, Maria Celina Berardinelli Arraes, central bank’s director for international affairs, told reporters in Brasilia today.
