But barely four weeks into 2003, Brazil is showing that living close to a big debtor can be good for its neighbors' health.

The third world's biggest debtor owes $8 billion in interest on a bank debt of about $60 billion.

Brazil, the biggest debtor in the third world, owes about $57 billion to commercial banks.

The United States is the biggest debtor, owing about $1.3 billion.

Just this week, bankers began what could be difficult negotiations with Brazil, the biggest debtor among developing countries.

But among the rich countries, only Japan is making a significant effort to channel capital to the big debtors.

Today, 17 big debtors owe about $485 billion, mostly to private lenders.

Brazil, the developing world's biggest debtor, said last week that a computer problem had delayed the disbursement.

We're now the world's biggest debtor, and every day another foreign predator scoops up a building or a corporation.

Brazil is the third world's biggest debtor, owing $115 billion.