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Brazil New Contributor to IMF

By Jaylan Boyle, Contributing Reporter

RIO DE JANEIRO - For the first time, Brazil has become a creditor rather than a debtor to the IMF (International Monetary Fund), pledging US$10 Billion to be spent on IMF bonds.

"This is an historic moment for us," said Guido Mantega, Brazilian Minister of Finance, at last week's annual IMF and World Bank Conference. "It is the first time in history that Brazil is lending resources to the IMF and therefore to the international community."

In its pledge to the IMF's coffers, Brazil joined fellow BRIC countries China and India, completing a . . .

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