US Wants to Discuss Prosperity with Brazil, says Snow

In a note released by Brazil’s Ministry of Finance, the United States Secretary of the Treasury, John Snow, congratulated President Luiz Inácio Lula da Silva and the Minister of Finance, Antonio Palocci, for the current stable situation of the Brazilian economy.

This newfound stability allows the country not to renew its Stand-By Arrangement with the International Monetary Fund.


This decision, according to Snow, reveals the strength of the Brazilian economy and economic policies and the consolidation of the country’s finances, a consequence of the success of President Lula’s government.


The Brazilian economy, adds the Secretary, is reaping the fruits of its macroeconomic policy, which has reduced inflation and the country’s debt since 2002 and increased exports by 32% last year.


Lula’s government, according to Snow, has reduced the country’s vulnerabilities and upheld a robust growth.


“The government is making important reforms, reducing the tax burden, and has plans for an infrastructure development policy.”


Snow says in the note that “good news comes from the implementation of good policies” and states that the United States wants to discuss bilateral prosperity policies with Brazil.


ABr

Tags:

Ads

You May Also Like

Small Victory

In court, the Indians held their emotions even when they were informed about the ...

Brazil and Mauritania to Explore Oil Together

Brazil’s Minister of Science and Technology, Eduardo Campos, met last Monday, May 2, with ...

London Mayor and Other Experts in Brazil for Innovative City Conference

From March 10 to 13, Curitiba, the capital of the state of Paraná, will ...

1.758 Million Barrels of Oil a Day. A New Record for Brazil’s Petrobras.

Brazil’s oil company Petrobras ended the month of February with an average daily petroleum ...

Brazil and Tunisia Sign Accord on Higher Education

The Minister of Foreign Affairs of Tunisia, Abdelwahab Abdallah, and the Brazilian Minister of ...

Foreign Investors Are Back and Again Bullish on Brazil

The real, Brazil's currency, reached its highest level in eight months on Friday, May ...

Mexico and Argentina Oppose Brazil’s UN Bid

Brazilian Ambassador José Viegas said he relies on “Latin countries consensus” on Brazil’s bid ...

Brazil’s Congress Back to Its US Parrot Role to Deride Chavez

Some legislative figures in Brazilian capital BrasÀ­lia, who at times apparently confuse their country ...

Brazil’s Key Interest Rate Drops 0.50%. Still High at 15.75%.

Brazil’s Monetary Policy Committee (Copom) announced yesterday, May 31, that it had unanimously decided ...

Brazil Goes Beyond Self Sufficient to 2.3 Million Oil Barrels a Day

Brazil’s government owned Petrobras averaged during October oil and gas production of 2.343.451 barrels ...