by Brazil is going to get a big infusion of American support via the IMF during the next year. Read the IMF news release.
An NPR report on the subject left little doubt the Brazilians feel economic policy strings attached to the loans are unfair, apparently feeling they are entitled to borrow another $30 billion dollars to manage as they wish. And this on top of the $270 billion in debt the country could default on should things go further wrong.
Unfortunately the NPR transcripts are not available on-line, but the attitude of entitlement was clear in the report. As was done in Indonesia, the economic club must continue to supplement the carrot of IMF money lest the money be wasted away in Brazil.
