Brazil’s economic policy warranted kudos from one of the world’s major financial institutions, the International Monetary Fund (IMF).
"At the same time, it is important to proceed with an ambitious set of structural reforms …. to encourage greater economic liberalization," affirmed the note released Monday, June 19.
The institution’s annual analysis is elaborated by directors of the Fund after discussions with Brazilian government officials, data collection, and visits to the country. According to the IMF, Brazil’s positive performance "attests to the benefits of disciplined macroeconomic management."
In the note the directors point out that Brazil reduced its vulnerability to international factors, since "the foreign debt fell to the lowest rate in over 25 years in comparison with exports."
The IMF also emphasizes that government officials should "continue to watch for opportunities to liberalize foreign trade and market rules, which will stimulate the ongoing integration of the Brazilian economy with the international economy."
It is not always the case that suggestions made by the IMF lead to economic stability, which is the presumed goal of the institution.
The IMF itself recently released a study in which experts judge that data were manipulated to conceal errors of interpretation committed by the institution that intensified the economic collapse that occurred in Argentina in 2001.