Brazil Left, But Dialogue Continues, Says IMF

In a statement issued by the International Monetary Fund (IMF) website, Managing Director Rodrigo de Rato says that Brazil’s decision not to renew the arrangement with the IMF reflects the positive situation of the Brazilian economy.

The note says that Brazil has overcome the instability of prior years, reaching “impressive results, generally ahead of expectations.”


Rato emphasizes Brazil’s GDP (gross domestic product) growth of over 5% in 2004, the highest in 10 years.


He also mentions the country’s external performance, fiscal balance, public debt and inflation reduction. According to him, these factors bolstered confidence in Brazil.


The IMF Managing Director also says that the country’s international reserves are at a comfortable level, and that a consistently strong fiscal performance is responsible for reducing the public debt and preserving macroeconomic stability.


Brazil has already made many reforms, and others continue on the Brazilian government agenda, especially the social ones, which are welcomed by the IMF, the statement says.


Rato concludes that Brazilian authorities and the IMF will continue the “close and cooperative policy dialogue” between them.


ABr

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Despite End of Year Slump Vehicle Sales in Brazil Grew 14% in 2008

Total sales of new vehicles in December 2008, in Brazil,  grew 11.54% compared with ...

Brazil Is Good for Your Pocket, Says Lula

Brazilian President Luiz Inácio Lula da Silva is headed to New York where he ...

Brazil’s Varig One Step Closer to the Grave

Only the workers said yes to an offer by VarigLog to buy moribund Brazilian ...

No Brazilian Victims in London Terror Attack

Brazil’s Ministry of Foreign Relations, the Itamaraty, informed that, as of this moment, no ...

Brazil President Tells UN She Wants More Power for Developing Countries

President Dilma Rousseff criticized on September 24 the delay in providing developing countries with ...

Movelsul: Brazil’s Last Word in Furniture Design

Brazilian furniture makers have been investing in machinery, design, human resources and management for ...

Brazil Ups Exports Target to US$ 135 Billion and Surplus to US$ 44 Billion

According to estimates announced by the Brazilian Ministry of Development, Industry and Foreign Trade ...

Can Lula End Hunger?

John FitzpatrickBy John Fitzpatrick The beaming, benevolent face of Luiz Inácio Lula da Silva ...