Brasília, 6/17/2003 (Agência Brasil - ABr) - Minister of Finance, Antonio Palocci, speaking after announcing the country's new development agenda, declared that no country in the world ever grew focussed only on interest rates. According to the minister, interest rates will fall when it is necessary for them to fall.

"Everybody knows that a reduction of interest rates is important. You also have to know that it is not sufficient by itself," said the minister as he explained that the government has to deal with other structural issues, involving investments, in order to ensure mediurm- and long-term growth. That means stimulating credit and strengthening the country's regulatory system, among other things, said Palocci. (AB)