Brazil’s Latest Boast: We Were IMF Debtors Now We Tell Them What to Do

Brazil's Lula talking
Brazilian President Luiz InΓ‘cio Lula da Silva says that Brazil is climbing out, and feels strengthened, from the deep global financial crisis and underlined that "Brazil is now advising the International Monetary Fund, IMF."

"For a long time Brazil was an IMF debtor, and obeyed as a child orders from its technicians, but today we are telling the IMF what they have to do and not the other way around," said Lula in his weekly column "The President Answers" published in several Brazilian dailies.

The Brazilian president said that in spite of the serious economic crisis, Brazil can lend the IMF US$ 10 billion without harming "our level of international reserves."

"Our condition is that the funds are used to aid the economies of the poorest and developing countries. It's not only humanitarian. Today, no country is an island, no country can live exclusively by its own means," he added.

Lula pointed out that Brazil managed to resist in good conditions the global turbulences although admitting that "while the rest of the countries can't emerge from the crisis, we will not be entirely sure, because we depend on the good economic health of all countries to normalize levels of international trade."

However while other countries still confront the crisis, "we are climbing out strengthened in advantageous conditions, with greater negotiation power in diplomatic and commercial relations."

Mercopress

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  • Show Comments (2)

  • ch.c.

    Furthermore…..
    Brazil with a small (US10 billion) IMF contribution CAN DICTATE/TELL the other countries..WHAT TO DO …..of course !

    And what about those countries with either the same contribution or much muchz much more ?
    Welllll….they have to follow what Robbing Hook and his gangs are telling them…using the Brazilian right common sense !

    Hmmmmmm !

    What about my midget country, Switzerland, with a larger IMF contribution than Brazil and this for decades, not new as Brazil is ?
    Just shut up…is the Brazilian analysis.

    And the USA, Germany, UK, France, Japan etc etc ?
    Shut up too….is the Brazilian Conclusion : pay and shut up !

    Brazil knows better, Brazil is as stated in the yellow and green site shown in this site :
    BRAZIL IS THE WORLD STRONGEST EMERGING MARKET – BRIC GROUP
    And this despite it has THE BRIC LOWEST GDP GROWTH RATE….OF COURSE !
    Even the lowest growth rate of the Mercosur.
    Included one of the lowest growth rate of most emerging markets around the world, including AFRICA.

    But no doubt, in Brazilians minds, that they remain the World Best !
    Proven by nothing but so Brazilians are.

    My analysis :
    – Never ever trust a brazilian
    – Brazilians always cheat, lie and hide
    – Brazilians have an endemic disease : they cant stop caressing their navel instead of scratching their head to do better or the same as most other emerging countries !

    And the problem is of course that Brazilians drug makers dont invest in R&D to find a drug…against that endemic disease.

    πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜‰ πŸ˜€ πŸ˜‰

  • Schwartzkopf

    [quote]”For a long time Brazil was an IMF debtor, and obeyed as a child orders from its technicians, but today we are telling the IMF what they have to do and not the other way around,”[/quote]

    I’m so sure that the heads of the IMF wait every morning for a phone call from Lula and his financial advisors about “what they should do”. I feel quite certain that without this invaluable advice they cannot even get out of bed in the morning!! πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰

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