Brazil is reportedly seeking to restructure its financing agreements with Sweden over the procurement of Saab Gripen aircraft as the South American country's defence budget is hit by austerity cuts. According to press reports, Brazilian president Dilma Rouss-eff has requested an amendment 'to the financing arrangement with the Swedish Export Credit Corporation (SEK) to lower the interest rates on the loans for the aircraft. The previously agreed rates were frozen at the time the contract was signed.
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