IMF calls for fiscal consolidation in Brazil

EPA/STEVE JAFFE

IMF Managing Director Christine Lagarde (L) with Brazil's Finance Minister Joaquim Levy (R) at the IMF Headquarters in Washington DC.

IMF calls for fiscal consolidation in Brazil


The International Monetary Fund (IMF) has advised Brazil to restore consumer confidence and economic growth by controlling price increases.

In its report published on May 12, the IMF said: “Fiscal consolidation should proceed without delay along the announced lines, while monetary policy should remain tight to bring inflation to target”.

According to the Wall Street Journal, Brazil’s Finance Minister Joaquim Levy is pushing spending cuts and higher taxes to plug a budget hole caused by yea...


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