Brazil and IMF Discuss How to Grow with Fiscal Responsibility

The International Monetary Fund mission that is discussing a pilot project which would permit the Brazilian government to make investments in infrastructure without considering such expenditures in calculating the country’s fiscal performance (specifically the primary account) has returned to Brazil.

The mission was last in the country in July. The IMF mission is once again led by Teresa Ter-Minassian, the head of the institution’s Fiscal Department.


Yesterday she met with Minister of Finance, Antonio Palocci, for further talks on the issue.


They were joined by minister of Planning, Guido Mantega, who has already explained the government’s Public-Private Partnership (PPP) project to the IMF.


The PPP project is an attempt by the government to resolve the country’s perennial problems with infrastructure through partnerships with the private sector. A PPP bill is in Congress and could be voted on this week.


The government’s position on the issue is that solid fiscal responsibility can be compatible with growth. The government denies it wants a “blank check” to spend as it wishes.


What the government desires is to have certain infrastructure expenditures excluded from the calculation of the primary account.


The Brazilian government remains open to other suggestions which would make it possible to achieve the same objective: that is, sustainable growth along with sustainable fiscal rigor.


Agência Brasil
Translator: Allen Bennett

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Your email address will not be published.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

Brazilians Back on the Streets Calling for President’s Impeachment

Major Brazilian cities were swept by protests on Sunday demanding an end to corruption ...

Former Brazilian President Fernando Henrique Cardoso

Former Brazil President Says Country Lost Its Leadership

Latin America has never been so divided, Mercosur is but an illusion of integration ...

Hacker or Google’s Inside Job? In Brazil Controversial Orkut Pages Disappear

Some Brazilians are accusing Google of suppressing freedom of expression in the still of ...

In the List of Least Corrupt Brazil Gets 80th Place in the World

Brazil ranks 80 among 180 countries in the latest report from Transparency International (TI), ...

Peru Leader Defends Strong South America in Brazil

In his speech, yesterday, at the opening of the South America – Arab Countries ...

Brazil’s Death Squads Are the Children of the Slave Traders

Portuguese and Brazilian slave-traders shipped at least four million slaves to Brazil, in contrast ...

The Amazon Is Ours to Protect. Brazil Cannot Follow the US Bad Example.

In 1980, the newspaper Jornal de Brasília published an article entitled "The Green Alaska." ...

Brazil Gets Tough on Haitians and Only 2 (Two) Visas Are Granted

Brazil, on January 13, announced measures to limit the number of Haitians entering the ...

February 1993

CONTENTS: Cover: Rio: under siege (p. 7) First person: Amo esse caos (p. 9) ...