April 30, 2018 / 6:53 PM / 9 months ago

Brazil's President Temer cancels Asia trip ahead of legislative vote

Brazil's President Michel Temer gestures during a credentials presentation ceremony for several new top diplomats at Planalto Palace in Brasilia, Brazil Abril 25, 2018. REUTERS/Adriano Machado

BRASILIA (Reuters) - Brazilian President Michel Temer’s press office said on Monday he had cancelled a planned visit to four Asian countries because of an important legislative vote this week.

Temer had been expected to visit Singapore, Thailand, Indonesia and Vietnam May 7-14.

The office said he would remain in Brazil to push for the passage of a bill that would free funds for the federal government to pay off debt that Venezuela and Mozambique owe to Brazil’s state development bank BNDES [BNDES.UL] and Credit Suisse (CSGN.S).

Brazil, during the administration of former president Dilma Rousseff, had said it would act as a guarantor for the loans, which financed works carried out by Brazilian firms in Venezuela and Mozambique.

Venezuela owes the vast majority of the nearly 1 billion reais ($286 million) owed to the banks, which must be paid by May 8.

Reporting by Lisandra Paraguassu; Editing by Phil Berlowitz

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