The Brazilian authorities had already expressed their intention to invest in IMF notes.
The agreement offers Brazil a safe investment instrument at the same time as boosting the Fund's capacity to help its members to weather the global financial crisis.
The Fund can now add these resources to those already available through agreements signed with other members, which contribute toward an increase in Fund resources that was requested in April 2009 by G-20 leaders and the International Monetary and Financial Committee.#
IMF Signs US$10 Billion Note Purchase Agreement with Brazil
Special Correspondent - 2010-01-23 07:22
The International Monetary Fund (IMF) and Brazil have signed an agreement under which Brazil would purchase up to US$10 billion in IMF notes over a period of up to two years. The note purchase agreement follows the endorsement by the Executive Board on July 1, 2009 of the framework for issuing notes to the official sector.