Brazil debt deal

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BRASILIA (Reuter) - The government hailed the decision by banks holding more than 95 per cent of the country's debt to take part in a dollars 44bn ( pounds 38bn) commercial debt accord.

'This is an important step because it represents support from creditor banks for Brazil's debt programme and the re-establishment of . . . relations with the international (financial) market,' said the Economy Minister, Eliseu Resende. More than 800 banks are to participate.