Brasília, November 14, 2002 (Agência Brasil - ABr) - Yesterday the International Monetary Fund mission met with secretary Eduardo Guardia, of National Treasury, and the ex-executive secretary of the Ministry of Finance, Amaury Bier. Lorenzo Perez, of the IMF mission, says GDP growth of 1% to 1.5% was discussed as part of the macroeconomics of the US$30 billion agreement.

Perez said that there was concern about inflation. Market expectations have risen to 8.76% for this year, and the IPCA up to October is now at 6.98%, while the IMF target was 6.5%, give or take two percentage points. "We are still going to discuss this matter at the Central Bank," said Perez.

Perez also denied that the IMF is suggesting a rising of the primary surplus target, presently of 3.75% of the Gross Domestic Product (GDP). "We never spoke about this", guaranteed Perez. (AB)