Brazil to seek new loans at meeting in New York

Brazil, struggling with a mountain of debt, will seek a new infusion of cash from foreign lenders at a meeting of Brazilian officials and bank creditors in New York next week, banking officials said.

Commercial bankers said Brazilian authorities would face tough questioning on the country's financial status at the meeting. Brazil will state its case for at least $4 billion in medium-term loans, including an already-agreed-on $2.4 billion of short-term financing. The country has more than $85 billion in external debts.

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