Brazil earmarks $20 bln in new loans to bolster economy
SAO PAULO Jan 28 (Reuters) - Brazil's government will release 83 billion reais ($20.4 billion) in new credit from state-run banks in a bid to bolster its shrinking economy, a government source familiar with the decision told Reuters on Thursday.
The announcement was made by Finance Minister Nelson Barbosa at a high profile meeting with business and labor leaders at the presidential palace. The new credit aims to help local companies weather what is on track to be the country's worst recession in a century. ($1 = 4.0685 Brazilian reais) (Reporting by Alonson Soto; Editing by Andrew Hay)
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