Rio, November 14, 2002 (Agência Brasil - ABr) - Bernard Pasquier, director for Latin America and the Caribbean of the International Finance Corporation (IFC), told a meeting of entrepreneurs at the American Chamber of Commerce, in Rio de Janeiro, that the election of Luiz Inácio Lula da Silva is relevant for Brazil and the world and is an example of democracy. Pasquier admitted, however, that, "whoever was the winner of the elections" would have a difficult mandate ahead, in view of the adverse international situation.

The problem is not limited to Brazil, he said, but is linked to the economic situation of the countries that belong to the Organization for Economic Cooperation and Development (OECD), which congregates the richest countries. According to Pasquier, preserving fiscal discipline will be fundamental for the new administration.

the IFC is the financial arm of the World Bank. (DAS)