Multilateral financial assistance to the Banco Central do Brasil

In conjunction with Brazil's second purchase under the IMF's Supplemental Reserve Facility made on 30 March 1999, the Banco Central do Brasil has also requested a second drawing under the USD 13.28 bn Credit Facility being co-ordinated by the BIS with the backing of 19 participating central banks, as well as under the USD 1.25 bn parallel Facility granted by the Japanese monetary authorities. (Further details about this multilateral financial assistance to Banco Central do Brasil may be found in the BIS Press Release dated 10 December 1998.)

All relevant conditions having been met, today the Banco Central do Brasil drew down USD 4.5 bn under the BIS Facility together with a proportional amount under the Japanese Facility.