Brazil, April 3:
Bolivian president Evo Morales arrived in Brazil to lobby the Inter-American Development bank (IDB) to forgive as much as $3.5 billion owed by the Andean nation and four other poor Latin American countries.
Morales, a strident leftist and Boliviaâ€™s first Indian president, is expected to push for the five-nation debt relief package at the bankâ€™s annual meeting starting today, one of the regionâ€™s most important economic forums.
But Latin Americaâ€™s two biggest powerhouses â€” Brazil and Mexico â€” are balking at supporting the debt write-off for Bolivia, Guyana, Haiti, Honduras and Nicaragua unless richer nations foot the bill.
â€œThis has to be talked about and negotiated because the question is, â€˜Who is going to be responsible in financial terms?â€â€™ Brazilian planning minister Paulo Bernardo said ahead of the event in this southeastern Brazilian city for top Latin American and Caribbean government finance officials.
Bolivia owes $1.6 billion of the total amount.