Brazil slashes Mozambique's debt
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Brazilian president Lula da Silva says his government will cancel 95% - or $332m - of the debt owed to it by Mozambique.
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MBIA Inc , the world's largest bond insurer, slashed its dividend by 62 percent on Wednesday and said it would sell $1 billion of debt to preserve capital and the "triple-A" ratings it needs to operate normally in a mortgage market under siege.
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President Luiz Inacio Lula da Silva said that Brazil will budget about $540 million over eight years to complete its nuclear program, including uranium enrichment and possibly building a nuclear-powered submarine.
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Brazilian Congress gives the green light to a long awaited overhaul of bankruptcy laws, which it hopes will reduce business and credit costs.
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Mozambique's government cuts diesel prices for private minibus taxis after deadly riots.
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Laid-off Brazilian factory workers have their jobs back, Nicaraguan farmers are getting low-interest loans and Bolivian mayors can afford new health clinics, all thanks to Venezuelan President Hugo Chavez.
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BRITAIN today said it would unilaterally write off its share of debts owed to the World Bank by the world&#39;s poorest countries.
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The World Bank agrees to a $1.2bn loan, repayable over 17 years, to help Brazil protect its diverse environment.
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Mozambique will change leaders after Thursday's election - the fifth presidential race this year in Southern Africa.
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The International Monetary Fund on Friday granted an Argentine government request to defer $1.1 billion in debt repayments that Buenos Aires was scheduled to make between now and January.
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The countryâs central bank cut the benchmark lending rate to a record low as a rally in Brazilâs currency holds inflation at an eight-year low. Policy makers, led by the bankâs president, Henrique Meirelles, 61, lowered the overnight lending rate by half a percentage point, to 12 percent.
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Mozambique used canoes and helicopters  to ferry ballot papers to remote rural districts for  Wednesday's election to pick a successor to President Joaquim  Chissano who spent 18 years in office.
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Britain announced Sunday it would unilaterally write off its share of debts owed to the World Bank by the world&#39;s poorest countries.
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Brazil's government plans to take over Varig, the country's flagship airline, in a move to keep its planes flying during a restructuring process aimed at paying down the carrier's massive debt, the head of the government's airline regulatory agency said.
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In another sign that Brazil's economy is rebounding after its worst recession in a decade, unemployment in South America's largest country fell to 11.2 percent in July from 11.7 percent in June, the government said Thursday.
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MAPUTO, Mozambique - AIDS has sharply reduced life expectancy in Mozambique and threatens to derail reconstruction efforts after years of civil war in the southern African country, Health Ministry officials said Friday.
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Brazil's president offered Cuba credits for food, drugs, roads and hotel repairs on Tuesday, and signed a deal for his country's state oil company to drill for oil in the Gulf of Mexico.