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The Brazilian economy has staggered upwards, says the International Monetary Fund. |  capital Cities

The Brazilian economy has staggered upwards, says the International Monetary Fund. | capital Cities

This statement was made by Issue 2 of the International Body, Gita Gopinath, at an event at the Central Bank, in Brasilia

First Deputy General Director of International Monetary Fund (International Monetary Fund) Gita Gopinath said on Wednesday (5/17) that the recent data on economic activity surprised many countries, including Brazil, with resilience. Number 2 of the International Monetary Fund participated in the first annual conference of central bank (BC), in Brasilia. She delivered the keynote address at the opening of the meeting.

“What’s impressive is that every time the data is released, we are positively surprised by its resilience in many countries,” Gita said. “I’m coming from Chile and in the first quarter there was a positive surprise. In Brazil, the data we saw was stronger than expected.”

She noted that Brazil was one of the first countries to raise interest rates. A measure whose objective is to control inflation. Between March 2021 and August 2022, the Central Bank (BC) raised the interest rate from 2% to 13.75% annually.

However, the Managing Director of the International Monetary Fund warned that “the range of monetary, fiscal and financial policy reforms has served emerging markets well so far. But the fight against inflation is far from over and interest rates may rise further in some countries. It is important that emerging call centers remain vigilant and adopting best practices.”

On Tuesday (16/5), the IMF also released a better forecast for the country’s GDP growth in 2023. It was 0.9% and changed to 1.2%.

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Gita also assessed that there is a possibility of a “soft landing” for the global economy, despite the strong monetary policy constraints in many countries. And you see that there is a narrow way for the US economy to avoid recession.