MercoPress. South Atlantic News Agency
IMF Assessment of Brazil Is ‘Wrong and Stupid’
The International Monetary Fund’s assessment that Brazil’s fiscal situation is worsening and putting at risk the government’s targets is “totally wrong” and “stupid,” Finance Minister Guido Mantega said. Read full article
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Disclaimer & comment rules“IMF Assessment of Brazil Is ‘Wrong and Stupid” Surprised Mr. Mantega? You can imagine, but the British, for example, still love some IMF arssesment from time to time, they just love it the rough way, all the way down or up :P Take a look a the UK, they are being flushed down the toilet.
Jan 28th, 2011 - 11:25 pm - Link - Report abuse 0IMF is a joke. Why Brazil why? don't even bother with them. Also UN is a joke.
Jan 29th, 2011 - 08:16 am - Link - Report abuse 0“The country’s deficit is one of the lowest in the world, and net debt will fall to 38 percent of GDP this year from 41 percent in 2010” .....I think this happens when the GDP goes up and the National Debt remains the same or increases at a slower rate. In Brasil's case, almost certainly it will be an increase in the National Debt.
Jan 29th, 2011 - 11:12 am - Link - Report abuse 0If a nett deficit means you are spending more than you are earning then we need to know where all the money is going - for it sure as hell isn't going into Education or Infrastructure....... and this at a time when earning (GDP) is going up and up!
Somebody needs to ask where all the money is going!!!! (I think we really all know).
I've a feeling that huge increase in salaries and pensions for the Fat Cats, massive increase in pension commitment for the huge state sector as the demographic shifts ever upwards, and of course, the ever-expanding Bolsa Familia IN AN ELECTION YEAR might be a BIG part of the 'vote-buying' nett deficit losses .....
I think even I would vote for a party/government that kept giving me more money for doing very little! .... (Thinks “Hell, I could even become middle-class if I did 'a little bit on the side'”).
@Geoff:
Jan 29th, 2011 - 05:31 pm - Link - Report abuse 0In the link below, you can see that “gastos de custeio” - that is, spending on public services employees - as a percentage of GDP has remained stable since 2002. Even during election year gastos de custeio and social spending have changed nothing from what they had been the few years before.
http://blogdofavre.ig.com.br/2010/12/transferencia-de-renda-e-a-principal-marca-da-gestao-lula/
As for public debt, you can see below that the trend, since the beginning of the Lula government, has been for a reduction in such measure. When Lula took office in 2002 debt stood at 60.5% of GDP. It stands at 41%. And interestingly, it was precisely during the conservative FHC government that public debt exploded.
http://blogdofavre.ig.com.br/2010/12/transferencia-de-renda-e-a-principal-marca-da-gestao-lula/
Forgetit. Thanks for you measured comment.
Jan 29th, 2011 - 08:17 pm - Link - Report abuse 0Hard family times at the moment so may not chat for a while.
G.
This is what happens when we borrow money from USA or IMF or EU they seem to think they have the right to dictate laws and choose a governmet for us, thanks ! but no thanks ! I think Brazil need to quit borrowing and start investing in real not U$ or EU$, this is my honest opinion, Brazil shouldn't be listening to IMF we all know that IMF has a currency related agenda, the IMF doesn't care for food or people rights to pease, the IMF is about profits for the club members.
Feb 03rd, 2011 - 09:29 pm - Link - Report abuse 0http://www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
http://www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
I think a report on farts might be more informative than this IMF innuendo.
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