Brasília, 4/22/2004 (Agência Brasil) - The International Monetary Fund has just released its World Economic Panorama. The IMF estimate for GDP growth in Brazil in 2004 and 2005 is 3.5%. The IMF estimates Latin American and Caribbean growth at 3.9% in 2004 and 3.7% in 2005. The report says Latin American growth will be boosted by world growth and domestic demand.

However, in its report the IMF warns that Brazil has not been able to reduce the ratio of its debt to GDP, in spite of efforts by the government to do so. The report praises the country's strong macroeconomic policies and the progress made with reforms, saying they have increased investor confidence and contributed to signs of recovery.

Brazil's minister of Finance, Antonio Palocci, and the president of the Central Bank, Henrique Meirelles, are in the United States this week for a regularly scheduled IMF-World Bank meeting and talks with investors and other monetary authorities.

Translator: Allen Bennett