Economic

Brazil ‘to write off’ almost $900m of African debt

“Brazil has announced that it will cancel or restructure almost $900m (£600m) worth of debt with Africa. Oil- and gas-rich Congo-Brazzaville, Tanzania and Zambia are among the 12 African countries to benefit. The move is seen as an effort to boost economic ties between the world’s seventh largest economy and the African continent. Official data in Brazil show that its trade with Africa has increased fivefold in the past decade. “

Source: BBC News – Brazil ‘to write off’ almost $900m of African debt

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