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

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