Brazil to forgive debt of some African nations

Brazil’s government says it is canceling or restructuring nearly $900 million in debt owed by 12 African nations.

The announcement came as Brazil’s President Dilma Rousseff visited Addis Ababa for the African Union summit.

Easing the debt is part of a Brazilian program to bolster Africa’s infrastructure, agriculture, and social programs.

Brazil is one of the world’s largest economies, with a gross domestic product of $2.4 trillion.

This entry was posted in World News. Bookmark the permalink.