IMF Gets Money and Gives Some Advice to Brazil on Trade Barriers

Even after Brazil paid off its debt with the International Monetary Fund (IMF), their partnership will remain, according to IMF Managing Director, the Spaniard Rodrigo de Rato. He affirms that the job of the IMF is not only to handle crisis, but also to ensure economic stability.

In order to sustain this stability, Rato suggested that Brazil should maintain its fiscal discipline, the reduction of commercial barriers, the simplification of the processes necessary to open up and legalize companies, as well as the labor reform.

He also suggested greater operational autonomy for the Central Bank, a measure that, in his opinion, would "increase the credibility of the inflation goal setting system and lead to greater reduction of interest rates."

"It’s a new era. Brazil does not owe any more money to the IMF, but the Fund will remain a reliable partner," he said.

"IMF aims at making everything possible to support the Brazilian government in the expansion of its recent successes, the consolidation of the macroeconomic stability, and in the promotion of reforms, in order to help it realize its great economic potential and improve the life quality of its population, specially the poor."

ABr

Tags:

Ads

You May Also Like

Brazil’s Petrobras and Its Stock Are the Hottest Ticket in Town, Says Fortune

Some good news for Petrobras and Brazil. First, Petrobras – Petróleo Brasileiro S.A.- is ...

Over 70 Indians Elected as Mayors and City Council Members in Brazil

Brazil's latest municipal elections, on October 5, resulted in a growing number of indigenous ...

Brazilian Government Gets Record Revenue for January

Brazil’s Total government revenue in January was a record for the month: US$ 20.5 ...

Sweat of Your Brow? No, Government Coupons

President Lula da Silva hasn’t read the Bible. Or why would he say, "It ...

Ring and Rhyme

Brazil and all other nations that speak Portuguese are once again bracing for an ...

Damascus/Sí£o Paulo (Brazil) Direct, Courtesy of Syria

Syria is planning to offer a flight between the city of São Paulo, in ...

Still Without an Explanation Brazil Government Refuses to Talk About Blackout

For Brazil's chief of staff and hand-picked candidate to succeed president Lula, minister Dilma ...

The best of stage and screen

CDs or Books by Keyword, Title or Author By Alessandra Dalevi In a daring ...

Major Villain, Livestock Source of 50% of Brazil’s Greenhouse

A study still to be published in a scientific journal shows that half of ...

Brazil Hailed as Model in Ethanol in International Encounter

Brazilian ethanol production was mentioned in the majority of the lectures given, January 23, ...