
The International Monetary Fund on Thursday called on Brazil to reinforce its economy as the country grapples with a severe political and economic crisis.
"Clearly, Brazil is facing a difficult situation and the key for Brazil is to strengthen the economic framework," IMF spokesman Bill Murray said at a news conference.
Latin America's biggest economy shrank 3.8 percent in 2015, the largest contraction in 25 years, and is bracing for another year of recession in 2016.
"Brazil should strengthen the macroeconomic framework that has served it well in the past to turn around confidence and boost investment," Murray said told reporters.
He gave examples of exchange-rate flexibility and "fiscal responsibility".
Brazil, which received IMF financial assistance in the 1990s, has not requested aid from the international lender, he said.
Brazil is facing one of its worst political crises in its history amid growing public anger at President Dilma Rousseff and her administration and an explosive corruption scandal at state oil giant Petrobras.
The IMF is "obviously following developments there closely," Murray said. "But as a matter of policy we don't delve into political developments in our member countries."
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:56 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 14:11 2018 Thursday ,08 November
Greek minister, Russian ambassador discuss possible investment projectsGMT 13:42 2018 Wednesday ,07 November
PM says Russian-Chinese trade turnover may reach $200 blnGMT 11:15 2018 Wednesday ,07 November
Top U.S. diplomat visits Pakistan to discuss economic cooperationGMT 13:53 2018 Thursday ,01 November
Alrosa to sell 127 large gem-quality rough diamonds at an auction in IsraelGMT 10:59 2018 Tuesday ,30 October
Trade turnover between Russia and Japan grows by over 17% in 2018Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor