During the 80s it was said that thanks to capital flight, a lot of big LatAm debtor countries were actually creditors, if you factored in all the secret foreign holdings by the local rich. Dunno if that's still true, but it seems like a possibility.
Doug
-Here is a paper of the WB on the Brazilian economy http://www.worldbank.org/pics/pid/br60575.txt
-Net external debt of the public sector was 9,5% of the GNP -Overall net public debt: 48,5% -This paper doesn´t provides us with information on total net external debt, but our authorities claim that private debt is 2/3 of total debt, so we would have something like 27% of GNP slightly higher than yours.
Alexandre