Brazil reopened issuance of sovereign debt bonds maturing in 2015. The Brazilian government issued another $500 million with the reopening of the Global 15 bond issuance, bringing the amount issued in 2005 as part of the 2006 pre-financing programme to $3 billion, leaving just $1 billion to be iussed (which seems highly feasible befire year-end.)
We estimate that Brazil' net international reserves total beyond $48 billion.