Brazil to Cancel US$900M in African Debt

By Lucy Jordan, Senior Contributing Reporter

BRASÍLIA, BRAZIL – In the latest in a raft of measures to strengthen economic and diplomatic ties between Brazil and Africa, Brazil will write off or restructure US$900 million (R$1.8 billion) in African debt. President Dilma Rousseff announced the measure during an official visit to Ethiopia over the weekend to attend celebrations marking fifty years of the African Union.

Amongst the twelve countries that will benefit are oil-rich Republic of Congo . . .

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