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datasets.iitb.crawledDocs.yn_08Oct08_file_87 Maven / Gradle / Ivy

    Welcome, Guest [ , ] - 8988914 AP Brazil central bank to finance exports in slowdown Monday October 6, 8:10 pm ET Brazil central bank boosts loans to banks, exporters to keep credit flowing amid slowdown BRASILIA, Brazil (AP) -- Brazil's top banker says the central bank will use its foreign currency reserves to boost loans to exporters amid the global credit crunch. Central Bank President Henrique Meirelles says the government will increase lending to private banks to ensure they keep credit flowing. It also plans to lend Brazil's national development bank more than US$2 billion to finance exporters, who've been hard hit by slowing demand for commodities and tightening international credit markets. Meirelles and other top economic officials are hoping to shore up confidence in Latin America's biggest economy, which on Monday saw large declines in its currency and local stocks. Copyright © 2008 Yahoo! Inc. All rights reserved. - Copyright © 2008 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.