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Wednesday, February 17, 1999 Published at 18:10 GMT

World: Americas

Head of Brazil bank in Soros link

The new head of Brazil's Central Bank, Arminio Fraga -- who is expected to be confirmed in his post by the Brazilian Senate next week -- has been asked to explain his alleged links with the international financier, George Soros.

An American economist, Paul Krugman from the Massachussets Institute of Technology, has said that Mr Soros bought huge amounts of the Brazilian national debt at a discount shortly before Mr Fraga was appointed to lead the Brazilian Central Bank.

Mr Fraga worked for the Soros Foundation from 1993 and resigned from the organisation only one day before his appointment was announced earlier this month.

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