Raises reptile briefly at the top of the bay in South America (6)

I believe the answer is:

brazil

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'in south america' is the definition.
('Brazil' is part of 'south america')

I can't explain the remainder of the clue.

(Other definitions for brazil that I've seen before include "Five-time winners of football's World Cup" , "Rio's country" , "Red wood; nut; country" , "Warm hooded jacket" , "Football World Cup holders" .)

I've seen this clue in the Irish Times.

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