Brazil on path to meet IMF fiscal targets -Cenbank
Reuters, Thursday, January 14, 1999 at 08:57
BRASILIA, Jan 14 (Reuters) - Brazil is on its right to path
to meet fiscal deficit targets set out by the International
Monetary Fund (IMF) in 1998, a senior Central Bank official
said Thursday.
"We are on the path to complete the annual target agreed
with the IMF," Altamir Lopes, head of the economics department
at the Central Bank told reporters.
Brazil agreed with the IMF to keep its budget deficit for
1998 as a whole to 72.9 billion reais as part of an accord to
access an IMF-led $41.5 billion international loan.
On Thursday, the Central Bank reported the country's
nominal budget deficit widened to 56.247 billion reais, or 7.45
percent of gross domestic product between January and October.
The deficit, also known as the public sector borrowing
requirement, covers local, state and federal government
expenditures and is one of the key indicators of Brazil's
fiscal health.
Economists on Thursday predicted Brazil may have narrowly
met IMF's fiscal targets last year.
Copyright 1999, Reuters News Service
|
