The IMF wants Brazil to avoid blowing up the budget — but protect vulnerable citizens. Photo: Bumble Dee/Shutterstock
In its annual report, the International Monetary Fund (IMF) recommended that Brazil maintain its public spending cap, while remaining able to give more economic support to face the crisis caused by the coronavirus pandemic.
In other words, the fund warns that fiscal responsibility cannot be achieved at the expense of the abrupt withdrawal of measures to support the economy amid the pandemic, such as the government’s emergency coronavirus aid program.
IMF analysts expect Brazil to grow 2.8 percent in 2021, after a 5.8-percent contraction in 2020. In the report, the IMF positively assessed the government’s measures to face the pandemic, saying that the country gave a quick response to the challenges.
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