IMF praises Brazil for strong economic transformation

IMF praises Brazil for strong economic transformation

The International Monetary Fund (IMF) applauded Brazil for the country's impressive economic achievements since the 2002 economic crisis. Brazil's economy grew 5.4% in 2004 and employment market rose 3.2%. The IMF said that the government's policies contributed to the strong economic recovery, which included gains in income and employment. On the other hand, the IMF cautioned that public debt was still high. Inflation fell to around 7.6% in 2004. The IMF supported the Central Bank's emphasis on keeping inflation on a downward path. The IMF suggests that Brazil promote trade openness and enhance the efficiency of capital markets.