Brazil: No plan for secondary trade of any IMF bond

NEW YORK, April 28 (Reuters) - Brazil has no plan for secondary market trading of any potential bonds that it buys from the International Monetary Fund, issued as part of the lender's efforts to boost its capital base, Finance Minister Guido Mantega said on Tuesday.

But Mantega said Brazil did agree to a specific request from Russia that the IMF bonds be made available for trading in the secondary market.

"No, we are not much concerned that these bonds are going to trade in the secondary market. It was Russia that specifically requested that. But since we are working together we agreed," Mantega told Reuters in an interview.

"But that doesn't mean that the following morning we are going to get these bonds and place them in the secondary market ... It is just a precaution," he said.

At the IMF/World Bank spring meetings in Washington over the weekend, the so-called BRIC nations (Brazil, Russia, India, and China) agreed they will not commit any capital to the IMF before the fund adjusts its bond issue proposal.

The BRIC nations also want the new bonds to have a short duration and be available for inclusion in their foreign reserves.

Mantega added that he does not expect the issuance of these bonds to crowd out the market and raise borrowing costs. (Reporting by Daniel Bases and Vivianne Rodrigues; Editing by Padraic Cassidy)