Brazilian Leaders to Meet With IMF Team
An International Monetary Fund team will arrive in Sao Paulo today on a quarterly mission to review Brazil’s $30-billion loan package. The visit also will mark the fund’s first formal dialogue with President-elect Luiz Inacio Lula da Silva.
Although outgoing President Fernando Henrique Cardoso and his team will lead discussions with IMF-Brazil point man Jorge Marquez-Ruarte, Lula and his team will participate in talks on economic goals from Jan. 1, when his government is set to take over.
The IMF team is expected to recommend to or solicit from the new government measures to cut Brazil’s public debt burden, which has expanded to about $260 billion, or about 63% of gross domestic product, because of a sharp depreciation of the real.