It seems unbelievable that the IMF is now boldly undoing the debt deal…agreed at its own annual meetings in September.

It's good that the IMF realized that they couldn't wriggle out of promised debt cancellation. The IMF must now deliver the funding quickly and without any further delay.

The IMF realized that the world was watching, and they couldn't deny millions of people the promised debt cancellation.

Real-denominated debt rates are unlikely to fall until the central bank rates meetings in late January. As a result, you're going to see people selling some of dollars they bought in November and December to bet again on Brazilian debt.

I think you will find we will have to repay the debt and before the election next year a special rate will have been imposed.

We are really depressed. We are left clawing our way back to commitments made three years ago. When we start defining success as simply standing still, that's a terrible situation to be in.