The World - News from June 27, 1986
The Reagan Administration decided to support a $500-million World Bank loan to Brazil, despite reports that it would oppose new financing to the debt-burdened nation. The loan is intended mainly to pay for food imports and to help Brazil reduce farm subsidies. “We decided it was a good loan,” a senior State Department official said. “We do not have a blanket policy against new loans to Brazil.” The United States had voted last week against another proposed World Bank loan to Brazil, whose foreign debt of $103 billion is the highest of any Third World country.
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