IMF Happy With Brazil’s Performance

    Following a meeting with Brazilian President Luiz Inácio Lula da Silva, Anne Krueger, deputy managing director of the International Monetary Fund (IMF), commended the performance of the Brazilian economy in the past two years.

    "By its firm adherence to a prudent macroeconomic policy and its commitment to the continuation of the structural reform program, president Lula’s Administration established foundations for the recovery of sustainable growth with low inflation," she said.

    Krueger made her comments, yesterday, December 1st, in a declaration to the press in the Ministry of Finance in Brasí­lia, the capital of Brazil. This is Krueger’s first visit to Brazil in two years.

    The IMF director affirmed that the directions of the economy inspire confidence in the country’s performance in 2006, provided the current policy is maintained.

    Krueger highlighted the 5%+ growth in the Gross Domestic Product (GDP) in 2004, the growth in domestic income, and the drop in inflation.

    She also referred to the results of the National Household Sample Survey 2004 (PNAD-2004), which demonstrate a decline in poverty and income inequality and a growth in formal employment.

    During the press conference, a group of 15 members of the National Students’ Union (UNE) demonstrated in front of the ministry against the presence of the IMF director and in favor of the dismissal of Henrique Meirelles as president of the Central Bank.

    They brought a coffin with them for a symbolic burial of high interest rates and the primary surplus. The coffin was set ablaze at the end of the protest.

    Agência Brasil

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