IMF Listens to Lula and Is Ready to Change Rules

Brazil’s Minister of Cities, OlÀ­vio Dutra, declared that the International Monetary Fund (IMF) has already given its go-ahead to the idea of excluding investments in housing and basic sanitation from the calculation of poor and developing countries’ budget surpluses.

“There have already been positive signs from the negotiations that the Brazilian government has been conducting and the declarations that President Lula has made, especially in the last session of the United Nations General Assembly in New York.”


When President Luiz Inácio Lula da Silva addressed the opening session of the UN General Assembly, he asked for changes in the IMF’s financial rules, “to provide the necessary backing and liquidity required for productive investments, especially in infrastructure, sanitation, and housing.”


According to Dutra, if the IMF accepts the idea, the amount of funds for housing and sanitation in Brazil can double.


Since the beginning of Lula’s Administration, US$ 1.8 billion (R$ 5;1 billion) have been spent on public water supply systems, public sewer systems, and urban drainage systems.


The government has already invested US$ 3.2 billion (R$ 8.8 billion) on housing.


“In these two years, we could invest 14 times more than what was invested between 1999 and 2002. We could double this if we could deduct our exppenditures in this area from the calculation of the country’s debt surplus,” the Minister asserted.


From the Minister’s viewpoint, unless poor and developing countries adopt a new stance, Brazil will not be able to comply with the Millenium Goals when it comes to the reduction of the number of people without access to public sewage by 2015, as well as a significant improvement in the living conditions of at least 100 million residents of precarious neighborhoods by 2020.


Agência Brasil
Translator: David Silberstein

Tags:

Ads

You May Also Like

Green Herd Puts Brazil on the Top of the World

The Brazilian cattle beef and dairy product sector export growth has helped the country ...

Bishop Dom Cappio, Brazil’s Green Prophet of a Lost Cause

The Church has many martyrs. Some died in the first centuries for refusing to ...

Tom Jobim and Vinicius, the Brazilian Odd Couple Who Started It All – Part Two

By now it should be apparent the lone, dissenting voice crying out in the ...

More Jobs in Brazil Today than 1 Year Ago

Data from the Brazilian Institute of Geography and Statistics (IBGE) indicate that the employed ...

Brazil: Zero Hunger Is Dead, Long Live Zero Hunger

A revamped and unified social assistance program to be soon launched in Brazil intends ...

Shotgun wedding, part of Festa Junina

New York Celebrates Brazil’s Festa Junina with Dance and Typical Food

The month of June marks the beginning of the fall harvest in Brazil, and ...

Brazil and Argentina

Free Trade Makes Mercosur Impossible, Brazil a Killjoy and the US a Savior

Free trade policies prevent regional integration that would benefit Latin America and permit the ...

It’s Been Ten Years Since Banks Had So Much Profit in Brazil

After a very good year in 2004, the biggest banks in Brazil have done ...

An Arabian Night’s Café in Brazil

Low lights, a warm environment, candlelit tables, carpets on the walls, cushions on the ...

Cultural Potpourri

It is so rare to see Portuguese-language poems translated into English and published in ...