China grants US$15 billion in loans to Brazil in 2016 | El Pais Brasil

Martian

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According to the newspaper El Pais Brasil, China granted an enormous US$15 billion in loans to Brazil in 2016.

This means Brazil is able to weather its recession with the help of a Chinese financial lifeline.

The first citation below is in English. The second citation is the original news report from El Pais Brasil in Portuguese.
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China grants US$15 billion in loans to Brazil in 2016 | MacauHub

"Financial institutions in China in 2016 granted loans to Brazil of US$15 billion, a record which coincided with one of the most economically and politically turbulent years in Brazil, newspaper El País Brasil reported.

The Spanish newspaper, citing the annual report from the centre for Inter-American Dialogue, said that the 2016 loans added to those granted in 2015 meant that Brazil is the second largest debtor of Chinese banks in Latin America, surpassed only by Venezuela.

China granted loans worth US$21.2 billion to Latin America in 2016, more than the loans granted by the World Bank and the Inter-American Development Bank together, and 72% of that total was for Brazil."



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China se transforma no grande banqueiro do Brasil | El Pais Brasil

 
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